Plain-English definitions of AI, accounting, and SaaS-finance terms.
Adherence to the Americans with Disabilities Act prohibiting discrimination and requiring reasonable accommodations.
AI model generating confident but factually incorrect or fabricated information not grounded in reality.
Anti-Money Laundering — a framework of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.
The GAAP revenue recognition standard requiring a five-step model to determine when and how to recognize revenue from customer contracts.
Corporate program and legal framework preventing improper payments to government officials and commercial counterparties.
A chronological record of all user actions, system events, and data changes in a financial system, providing a traceable history for auditing and investigation.
U.S. primary anti-money laundering law requiring financial institutions to assist in detecting and preventing financial crimes.
International banking regulatory framework strengthening capital requirements and risk management for banks post-2008 crisis.
Identification of natural persons who ultimately own or control a legal entity above a defined ownership threshold.
Process of verifying customer identity and assessing risk before and during a financial relationship.
Internal control framework published by the Committee of Sponsoring Organizations used for assessing and improving organizational controls.
Situation where personal interests or competing loyalties may improperly influence professional judgment or decision-making.
Mathematical framework adding noise to data or model outputs to provide formal privacy guarantees.
U.S. financial reform law enacted in 2010 expanding regulation of financial institutions, derivatives, and consumer protection.
Systematic investigation of a business or investment to verify facts and identify material risks before closing.
More intensive customer due diligence applied to higher-risk customers, including PEPs and high-risk jurisdictions.
Payment card microprocessor chip generating a unique cryptogram for each transaction, preventing card fraud.
AI systems and techniques making model decisions interpretable and transparent to human users.
International standards from the Financial Action Task Force setting AML and counter-terrorism financing requirements.
Machine learning approach training models across distributed datasets without centralizing raw sensitive data.
Legal obligation to act in another party's best interest, arising in relationships of trust and confidence.
AI-powered technology combining OCR, NLP, and machine learning to automatically extract, classify, and process data from complex financial documents.
The policies, procedures, and practices designed to safeguard assets, ensure financial accuracy, prevent fraud, and promote operational efficiency.
The Payment Card Industry Data Security Standard — a set of security requirements for organizations that handle cardholder data, mandated by card networks.
Minimum wage rate for construction and service workers on government-funded projects, set by the Department of Labor.
Confidential report filed by financial institutions with FinCEN when they detect potentially illegal activity.
A security audit standard developed by the AICPA assessing a service company's data security, availability, processing integrity, confidentiality, and privacy controls.
Adherence to the Sarbanes-Oxley Act requirements for financial reporting controls and auditor independence for public companies.
Process of checking customers, counterparties, and transactions against government sanctions lists to prevent prohibited activity.
An internal control principle requiring different people to handle different stages of a transaction to prevent fraud and errors.
Replacing sensitive payment data with a non-sensitive substitute token that has no exploitable value.
The pricing of goods, services, and intellectual property exchanged between related entities within a multinational company, governed by the arm's length principle.
