Are you doing what you can to ensure nothing slips through your accounts payable process? A good article by Xero about how accounts payable automation can help (link below) but automation does not solve all of your problems and also creates a couple. We look for anomalies in your accounts payable and payments data, whether or not you use automation, to make sure all is well in your accounting system. We return data in our menus if we find any…
đ° Think you know what an accountant does? The reality is accountants do a lot more than add up columns of figures. đ Read more: http://bit.ly/2oxIhT9 #WatchfulEye Accountants survey to plumb ‘the future of trust’ Rob Stock05:00, Sep 02 2018 123RF Think you know what an accountant does? The reality is accountants do a lot more than add up columns of figures. Chartered accountants are among the most trusted money professionals, even at a time when trust levels in the…
Watchful Eye, we like a surveillance camera for your accounting system. https://www.news.com.au/finance/work/at-work/from-freebies-for-mates-to-150000-fraud-employee-theft-costs-australian-business-billions/news-story/ac7b41f93ace63b20ff99b5e3d1b712a ITâS an epidemic costing Aussie businesses $1.5 billion a year, but many of us have been guilty of it at one point or another. Frank Chung@franks_chung Stealing office supplies might be tempting, but you shouldnât do it.Source:istock IF YOUâVE ever taken a pen, notepad, stapler or even a Post-It note home from the office, youâre part of a problem costing employers $1.5 billion a year. According to the…
This is why we made Watchful Eye software, to help Small Business get assurance that all is well in their business. https://www.entrepreneur.com/article/293726 A recent survey shows 80 percent of embezzlements occurred at small businesses. Ken Springer Guest Writer President and Founder of Corporate Resolutions Inc. Opinions expressed by Entrepreneur contributors are their own. The latest statistics on fraud should send a big jolt of fear into small business owners. According to…
As we broaden the use of our software to be more than just Employee Fraud protection. We have been researching whether driving integrity and quality into SME accounting systems provides quantifiable value to business owners. We would like to see more research on the subject area as we feel that driving integrity and measuring the quality of your accounting system usage adds more value than simply reducing your risk of employee fraud. This UK article suggests the costs of having…
This highlights the prevalence of employee fraud in New Zealand, and the inability of companies to protect themselves or provide the necessary details for this fraud to be investigated by the police. The article states there is little deterring criminals from committing fraud and â(it is) a bit of an internal joke in police that if youâre going to commit an offence, fraud is the offence to commit (as) the chance of being detected is incredibly lowâŚ..â Watchful Eye software…
Often fraud happens over a long period of time, with the perpetrator becoming bolder as time goes on and the fraud remains undetected. Â Watchful Eye software monitors every transaction and reports on changes and anomalies which can prevent this from happening. Â By instigating an anti fraud policy in your company and implementing anti fraud software, you reduce your risk to employee fraud and will not be a workplace fraudsters will look to be employed. http://www.abc.net.au/news/2016-11-04/former-contractor-jailed-stealing-more-than-half-million-dollars/7996698 November 4, 2016 A…
Gambling is cited by many as their reason for defrauding their employers and something to be aware of as an employer with your staff.  More and more we are seeing this reason used in court, but it is hard to gain an accurate picture as many exaggerate the extent of their gambling issues to garner sympathy.  This is something Judges seem aware of, acknowledging gambling addictions as explaining but not excusing the offending – as is the case here with this…