Tag Archives: IT support for accountants

How Financial Firms Can Maintain Regulatory Compliance in 2022

Technology and data compliance go beyond not storing data publicly. It’s about maintaining a balance between the accumulation of data along with its proper documentation. Financial and wealth management firms in 2022 need to maintain a virtualized environment, encrypted data, and updated software on an ongoing basis. Keeping regulatory compliance with these practices will be […]

What is SOC 1 & SOC 2 Compliance?

What are SOC 1 and SOC 2 Reports ? Service organizations, like financial and accounting firms, are required to meet compliance requirements. The two most common compliance frameworks are SOC 1 and SOC 2. But what exactly are they? More importantly, how does SOC I and SOC II work exactly? SOC 1 Service Organization Control […]

Financial Cloud for The Financial Services Industry

Cloud for Financial Services Industry Financial cloud services is an evermore popular topic these days, especially with the rising necessity of remote work options. Financial services organizations are moving to the cloud for a competitive advantage, advanced security and the potential for innovation. The global finance cloud market was valued at more than $15 billion […]

Renew Your Tax ID Number & Secure Your Data

The Importance of Data Security It’s time to renew your prepared tax identification number (PTIN) for 2020. A data security responsibilities statement was added to the PTIN renewal process. It was added to keep you aware of your legal obligation to have a data security plan and data protection for taxpayer information. This is due […]

Regulatory Compliance: Compliance is Everything

The Need For Regulatory Compliance Regulatory compliance is  a dull subject. Yet, if your financial institution or business ignores or isn’t aware of it –it could cause problems. Regulatory compliance ensures organizations follow state and federal law, as well as federal standards and procedures. That may sound simple enough, but considering the variety of mandated […]

Are You an Accountant? What You Should Know About SOX Compliance

Background & History of SOX The Sarbanes-Oxley (SOX Compliance) Act of 2002 mostly came about due to a great deal of national attention surrounding several financial and accounting scandals by major corporations in the early-to-mid 2000’s. These corporations, like Enron, Tyco International, AIG, Adelphia, Peregrine Systems, and WorldCom were discovered to have executives within each […]

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