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Know your customer (KYC) guidelines and regulations in financial services require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer.
NSDL Group comprises National Securities Depository Limited (abbreviated as NSDL), NSDL Database Management Limited (NDML) and NSDL Payments Bank Limited. NDML and NSDL Payments Bank are two subsidiary companies of NSDL. It provides services related to demat of securities, transfer and settlement of securities in Indian Securities Market.
Maker-checker (or Maker and Checker or 4-Eyes) is one of the central principles of authorization in the information systems of financial organizations. The principle of maker and checker means that for each transaction, there must be at least two individuals necessary for its completion.
A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are coded by ...
It also covers the steps involved in preparing and reporting the overall accounts which are typically stored in a general or nominal ledger and managed by a controller. The detailed steps involved are: [2] data extraction; data collection; data validation; data transformation (generation of voucher) voucher posting (to general ledger)
Business Process Validation (BPV) is the act of verifying that a set of end-to-end business processes function as intended. If there are problems in one or more business applications that support a business process, or in the integration or configuration of those systems, then the consequences of disruption to the business can be serious.
Verification is intended to check that a product, service, or system meets a set of design specifications. [6] [7] In the development phase, verification procedures involve performing special tests to model or simulate a portion, or the entirety, of a product, service, or system, then performing a review or analysis of the modeling results.
Process performance qualification protocol is a component of process validation: process qualification.This step is vital in maintaining ongoing production quality by recording and having available for review essential conditions, controls, testing, and expected manufacturing outcome of a production process.