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New Accounting Software Can Help Spot Fraudulent Practices

 
 
Reply Sun 15 Dec, 2002 05:26 pm
In the wake of corporate accounting scandals, a number of manufacturers are developing computer software that will help identify fraudulent business practices. The software spots unusual activity, and can generate sophisticated reports:

Link to Article About New Accounting Software

What do you all think of this?
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Type: Discussion • Score: 1 • Views: 1,294 • Replies: 5
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Rae
 
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Reply Sun 15 Dec, 2002 07:30 pm
Since accounting is my business, I'm very interested, Phoenix. Off to check it out now.....Thanks!
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Rae
 
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Reply Sun 15 Dec, 2002 07:35 pm
Just sent the article off to the owners of my hotel.

Very interesting and welcome article.

Thanks, Phoenix!
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Phoenix32890
 
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Reply Sun 15 Dec, 2002 09:23 pm
Rae- Anything that would discourage corporate skullduggery would be most welcome.
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sumac
 
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Reply Fri 20 Dec, 2002 12:55 pm
I have used Peachtree Accounting software in two different situations, and two different versions of it.

As long it is possible to keep two different set of books, I don't believe that any software can touch the problem.

Also, if the people at the top of the accounting function in a corporation are responsible for buy/no buy decisions, then they will know in advance all the great new features that will blow the whistle on fraud, as the software manufacturer will be hyping it.

No substitute for honesty and principles, I'm afraid.
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Rae
 
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Reply Fri 20 Dec, 2002 06:05 pm
I agree, sumac.

In my old job, I used AccPac, and loved it. In this job, we use QuickBooks Professional. I don't like it, but, I'm still trying to get used to it.
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