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Category: Accounting software

Accounting software is a vital tool in the fair, balanced and legal running of a company, providing a platform through which all financial transactions are submitted.

Such technology could soon become crucial to public sector organisations, as they look to combat growing levels of fraud.

The most concerning factor for many may be the fact that an increasing number are facing internal threats from their own staff, as well as risks with suppliers.

According to the latest Global Economic Crime Survey by PricewaterhouseCoopers (PwC), 46 per cent of respondents have experienced some form of economic fraud in the last year – up from 37 per cent in 2009.

"It seems we are now seeing a pattern of behaviour in the public sector, as cuts and redundancies begin to take hold," explained Ian Elliott, partner in forensic services at PwC.

Investment in accounting software could help bodies keep their finances under control and avoid the threat of being defrauded.

Business Weekly recently suggested that many firms are looking to hand their accounting responsibilities to local auditors.

Posted by Victoria Browne