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Accounting Technology: Definition, Types & Benefits

Intuit

Key points Accounting technology means digital tools that handle financial data and automate workflows while keeping you compliant. Automation and AI are reshaping how accountants work, from record keeping to strategic planning. Cloud systems provide real-time access to data, helping teams collaborate and speed up audits.

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Invoices in Audits: What Every SMEs in Singapore Should Understand

Counto

Invoices in Audits: What Every SMEs in Singapore Should Understand As a small business owner in Singapore, navigating the complexities of financial management can be daunting. Among these complexities, understanding the role of invoices in audits is paramount. Discover how we can streamline your taxes and accounting today.

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How to Conduct an Effective AP Audit

oAppsNet

Conducting an accounts payable (AP) audit is critical in ensuring your business’s financial health and integrity. An effective AP audit helps identify inefficiencies, discrepancies, fraud, and opportunities for process improvement. What Is an Accounts Payable Audit? Here are the key steps involved: 1.

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Navigating ACRA’s Compliance Requirements for 2025

Counto

Financial Record-Keeping and Audit Requirements ACRAs compliance requirements for financial record-keeping and audits continue to be stringent. For example, if your business generates over SGD 10 million annually, you must undergo an audit by a certified public accountant to ensure compliance.

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In the blogs: Answer unclear; ask again later

Accounting Today

CLA ( [link] ): The FDIC has proposed significant updates to 12 CFR Part 363 (FDICIA), which governs annual independent audits and reporting requirements for insured depository institutions. Commissioner provides a stark reminder of the record-keeping required to preserve these deductions.

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Common Methods of Accounts Payable Fraud

oAppsNet

Ensure different employees are responsible for invoice approval, payment processing, and record-keeping. Conduct Regular Audits Conducting regular internal and external audits is essential for identifying fraudulent activities. Segregation of duties is essential for reducing the risk of fraud.

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Cryptocurrency Accounting for Small Businesses in Singapore

Counto

Record-keeping for Cryptocurrency Taxation Maintaining accurate records of all cryptocurrency transactions is essential for proper tax reporting. Maintain Detailed Records : Keep thorough records of all cryptocurrency transactions, including dates, amounts, and purposes.