Amongst many roles during insolvency proceedings, resolution professionals are tasked with identifying fraudulent and wrongful trading within the organization. Limited resources, tight budgets and incomplete information make this a challenging task.
Insolvency and Resolution Professionals
While uncovering fraud requires a detailed forensic audit, resolution professionals can leverage iAcuity Fund Trail to identify suspicious behaviors to determine the need for further investigation. Red flags like unreported related party transactions, large transfers to new parties, extensive cash withdrawals, etc. are instantly detected and presented to resolution professionals. Fund Trail enables resolution professionals to ensure extensive efforts and cost of a detailed forensic audit will be fruitful.
Uncover suspicious behaviors worth investigating
Detect discrepancies in books of accounts
Investigate wrongful transactions by directors
Benefits
Upload data in any digitally readable format. No more data transformation, normalization, and cleansing efforts. Fund Trail automatically validates data and starts analysis.
Analyze billions of transactions across multiple accounts, bank statements and ledgers. Fund Trail is the perfect tool for complex analysis involving millions of transactions.
Fund Trail helps follow the money trail. Investigators can easily see unreported related party transactions, diversion of funds or suspicious transactions.
Detect accounting fraud and missing ledger entries. Fund Trail provides a detailed transaction by transaction comparison and reconciliation between ledgers and bank statements.
Track changes in revenue, expenses, inventory, and other parameters of the business over the investigation period.
Data privacy is critical especially when entities are under investigation. iAcuity uses advanced encryption techniques to ensure data is only accessible to authorized personnel. Furthermore, Fund Trail monitors user activity and data access logs to provide a security audit for each case.
Fund Trail can be deployed in the cloud or on-premise providing enterprise with flexibility of deployment.