TITLE

New Tech Boosts Compliance Tests

AUTHOR(S)
Kohen, Sharyn
PUB. DATE
October 2005
SOURCE
Bank Technology News;Oct2005, Vol. 18 Issue 10, p49
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents information about the boost of compliance processes owing to the introduction of new technologies in financial services industries in the U.S. Increasing regulatory requirements have placed increased pressure on companies to perform testing of controls in a timely manner. Compliance testing process includes regulatory scrutiny, the emphasis on operational risk mitigation, and budget constraints all intensify the need for high-quality, low-cost risk management processes. Thus, automated management testing is incorporated, which is more independent and accurate than other types of testing, allowing auditors and regulators to place more reliance on it.
ACCESSION #
19423328

 

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