Assurance

Drive integrity & measure quality in your accounting system usage

 

Protection

Reduce your risk and protect against errors & fraud with continuous monitoring of Xero + MYOB

Growth

Improve business practices to not inhibit growth

Watchful Eye: Quality Control for Xero, MYOB
Product Overview

Product Overview

Watchful Eye = Quality Control for Xero, MYOB Improve the integrity of your accounting data, your accounting processes and reduce the risk of errors and fraud with Watchful Eye software. Seamless integration with Xero and MYOB AccountRight. Validation of key card information against 3rd party databases – ASIC®, NZ Companies Office ® , UK Companies House ® and Google Maps ®. Dashboard to display the quality of your accounting processes. Out of the box analysis of a wide range of…

Product features

Integration

Watchful Eye software for Xero + MYOB seamlessly integrates to your accounting system, it keeps a Watchful Eye over your accounting system activity and provides actionable lists of transactions you need to review

Data Integrity

Validate all “Company” Suppliers and Customers against AU ASIC, NZ Companies Office & UK Companies House. Validate Supplier, Customer & Employee physical addresses against google maps

Processing Quality

Six measures that graphically display the trend of the quality of transactional processing within your accounting system.

Maps

Analyse the spread of your current Suppliers, Customers & Employees and highlight transaction volumes. Highlights any close vicinity records so you can confirm they are legitimate.

Suppliers & Customers

Analyse transactions highlighting errors or suspicious transactions to investigate

Employees

Keep your employee personal details current. Analyse transactions highlighting errors or suspicious transactions to investigate. View relationships between your Employees and your Suppliers & Customers

General Ledger

Ensure your company’s total GL transactions align to Benford’s Law distribution or understand why it doesn’t align

Tickets

Manage the records being investigated. Assign investigations to different users. Store supporting notes, attachments, etc on the ticket. Classify tickets when the closing the investigation.

Custom Alerts

Not all companies face the same risks, select the risk areas you are interested in and how often you want to be sent each alert type.

Meet our team

Brett Wilgar BCom, CA

Chief Executive Officer

Brett Wilgar is the founder and the creator of the Watchful Eye accounting governance software. He has 20+ years of commercial management experience in the IT industry.
Brett holds a Marketing and Accounting degree from the University of Otago and is a Chartered Accountant member of the Chartered Accountants Australia & New Zealand.
“Our story started in late 2013.  I was the CFO of an Australasian IT company when an employee stole AUD$450,000 from the company.
At that time I was not aware of the extent of employee fraud and how big an issue it was for businesses, but it sparked a keen interest in the subject area.
After two years of research we started developing software designed to help business owners drive quality into their accounting system usage to reduce their risks.”

 

Kuai Wei PhD

Chief Technology Officer

Kuai Wei has led the development team building the Watchful Eye accounting governance software since the company’s inception. He has a PhD in Computer Science specialising in algorithm design from the University of Auckland. He also has over 10 years of programming experience, including 4+ years of algorithm design and implementation.
Kuai is a keen ‘technology evangelist’, looking at the cutting-edge technologies and build prototypes.
He also has deep understanding of software architecture, security, database design and optimisation.
At Watchful Eye our software has been built and hosted in the Microsoft Azure cloud platform, applying best practice architecture and security, unit tests, integration tests, DevOps, etc. We have also developed complicated algorithms to analyse all aspects of accounting data together with multiple 3rd party data connections to report suspicious records. Our investment on algorithms will never stop.

Ex-Mediaworks employee jailed 3 years for fraud

Using invoices from real and false companies is a common way of being defrauded.  This is why we recommend that you only use the full legal names of your Suppliers and validate them using the Government run company databases – the ‘Companies Office’ in New Zealand and ‘ASIC’ in Australia. http://www.newshub.co.nz/business/ex-mediaworks-employee-jailed-3-years-for-fraud-2016101712 Monday 17 Oct 2016 12:57 p.m. An ex-Mediaworks employee has been sentenced to three years in prison after stealing nearly half-a-million dollars from the company. Rebecca Boyce invoiced the…

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Lynfield College accounts manager admits embezzling more than $400k

Often with small to medium businesses the size of the organisation does not allow for the separation of duties, and, as a staff member’s length of service extends, the trust builds – as is the case in this article. Trust, however, is not an internal control. Watchful Eye Software gives business owners\managers confidence in the trust placed on staff and gives staff trust in the integrity of the accounting system and business. http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11701907 3:04 PM Tuesday Aug 30, 2016 Lynfield…

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Former engineer sentenced to jail for $2m fraud

Watchful Eye has a useful feature that searches the companies office for your Employee’s addresses to look for Suppliers, Directors & Shareholders who have a similar address.  This would have identified the offending in this case. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11644370 11:28 AM Wednesday May 25, 2016 Paul Rose, 44, has been convicted on nine charges of obtaining by deception while his former partner Jane Rose was convicted on eight of the same charges. Photo / Michael Craig A former Mighty River Power engineer…

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Phone

NZ: +64 9 886 2850

AU: +61 2 8259 0395

Copyright

Watchful Eye Software Limited 2018