Glossary of Compliance

Compliance Glossary

Our list of curated compliance glossary offers everything you to know about compliance in one place.

CPA

Certified Public Accountant (CPA) is a professional designation given to accountants in the United States who have passed a certification exam and met certain education and experience requirements. It is a globally recognized test for which aspirants must take the Uniform CPA Examination.

A CPA is licensed by the state in which they practice to perform a range of accounting services, including auditing, tax preparation, and consulting. CPAs are held to high ethical standards and must complete continuing education to maintain their license. Many businesses and organizations hire CPAs to handle their financial affairs and provide guidance on financial matters.

For example, if a firm is not a certified CPA firm, then you cannot complete a SOC 1 or SOC 2 audit that will be acceptable by AICPA.

Additional reading

Blogs Compliance management Risk Management

Compliance vs Risk Management: Key Differences & Similarities

A report by Bloomsberg states that companies are spending 6-10% of their revenue solely on compliance! Furthermore, over 50% of executives see cybercrime as a top five risk now and in the next three years, with concerns rising. The above statistics are pieces of evidence that in the absence of compliance, you can lose money…

Blogs

DORA Compliance: Stay Ahead or Fall Behind

What happens when the global finance systems fail unexpectedly? In February 2022, a cyberattack on ION Group, a key service provider for banks and brokers, brought down trading systems in Europe and the United States. Overnight, firms were forced to manually process trades, scrambling to stay up with market movements. The disruption lasted many days,…

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