“If You’re Audited…” The Zelle Compliance Wake Up Call #lawfirms #legalaccounting
In this brief segment from a presentation aimed at law firms and legal accounting professionals, the speaker warns that Zelle (referred to as Xel) transaction lists and general ledger entries lack the documentation auditors typically require. The speaker emphasizes that relying on these incomplete records can cause significant compliance headaches during an audit, and that retroactively fixing the documentation is far more costly and cumbersome than establishing proper records from the outset.
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