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"Explore Key Regulatory Reporting Challenges"

Challenges of Regulatory Reporting in 2017

White Paper: AutoRek

The phrase 'challenges of regulatory reporting' means different things to different organizations.

Regulatory reporting submissions are only as good as the data they contain. Constant activity which encompasses formal preparation, robust submission, comprehensive sign off and approval, and on-going maintenance and review are some of the key components needed to have confidence in submissions.

The creation of a consistent 'golden source' of data will increase both confidence and performance in firms' ongoing regulatory reporting and compliance challenges.

This whitepaper explores several key regulatory reporting challenges including:

  • Regulations and directives driving the agenda

  • Impact and uncertainty the UK's exit from Europe (Brexit) may have on regulators

  • Costs of compliance weighed against regulatory fines and reputational damage

  • Potentially contradictory interpretation and application of regulations

  • Role and recent decisions of the regulators themselves

  • Existing gaps between regulatory rules, and organizations’ processes and controls

Challenges of Regulatory Reporting in 2017
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What is

What is Risk Management ?

Risk management is the way of identifying, measuring and dealing with the threats to an organizations capital and earnings. Definition according to ISO 31000 Risk management is the way toward assessing the chance of loss or damage and finding a way to battle the potential Risk.

What is Business ?

By definition a business is an organization or economic system with consistent and typical exchange of produced goods and offered services for one another or for money to fulfill human needs. Types of businesses, Non-Profit business: This is a type of business with charitable or educational goal rather than earning money from its services.

What is Reconciliation ?

Reconciliation in accounting is the process of confirming whether one set of records match the counterpart set of records to identify the existence of irregularities, which might have been made by the bank or the owner of the account. The comparison determines the reliability of the bank records with that of the company’s records. Reconciliations may take place on a daily, monthly, or yearly basis.

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