Vincents has developed its own review, risk analysis and compliance software called FraudCheck.

The software analyses accounting data files and performs a series of detailed tests on the Electronically Stored Information (ESI). This can provide a cost effective means to carry out regular reviews of the data integrity in areas such as the receivables and payable ledgers, invoicing and employee profiles.  It also identifies incorrect payment data, invalid ABN’s and ACN’s and payment anomalies which may suggest that the accounting records are not accurate, or have been tampered with. Think of it as a “risk health check” for the business.

Who uses Fraudcheck?

• Banking and Finance – assisting with compliance reviews and risk profiling of customer accounting files.
• Accountants – to  assist in the regular reviews / audits of client business information
• Lawyers – as a means to extract expert evidence
• State & Federal regulatory bodies – compliance

The initial tests are quick and cost effective and they highlight areas, if any, that require a more thorough investigation. Tests can be done discretely if required, so there is no detriment to any ongoing employee or contractor relationships.

What does Fraudcheck Identify?

• incorrect payment data
• invalid ABN’s and ACN’s
• payment anomalies including duplicated transactions
• Irregularities in financial data including unusual journal entries