Why your accountant will be happy with the IBAN-Name Check (portal)
There is increasing pressure on auditors for safe (financial) operations. They have more obligations than ever to detect and report frauds, but ideally, of course, to prevent them. With the IBAN Name Check portal, you can greatly relieve your accountant of this.
What exactly is the role of the accountant?
When auditors come across, or even suspect, fraud during the audit or review, they must report it. But then the fraud has already taken place. Today, accountants also have increasing responsibilities in fraud prevention. They should identify weaknesses in organisational measures.
Not easy, because So when does an accountant do enough? And isn’t there too much pressure on the accountant now? The an IBAN Name Check is a proven verification mechanism and can help with this.
This is how you help the accountant (and have a large part of fraud prevention in place quickly)
There are a number of reasons why your accountant will be very happy with the introduction of an IBAN Name Check into your business processes.
➔ Extra monitoring of all transactions
Detecting fraud is not always easy even for experienced accountants. Transactions can never all be checked. Sampling tries to overcome as much as possible anyway. The advantage of using the IBAN Name Check is that it can be done in advance on all transactions, or periodic samples. By doing so, you minimise the number of frauds at once.
➔ Prevent payment of ghost invoices and spot dubious debtors
The IBAN Name Check can also be very useful in detecting bad debtors and creditors. You often spot trace invoices quickly because the ascription and account number do not match.
Even debtors who have no intention of paying often report under a false name that is the same, or almost the same, as that of another organisation that is known. If the IBAN Name Check shows that the name and account number do not match, it could be an indication that the debtor is dubious.
In doing so, the IBAN Name Check also directly checks whether the account number provided is business or personal. Indeed, fraudsters often prefer to use a private account, which is easier (with fewer checks) to open than a business one. In other words, they are thereby trying to lower their chances of getting caught. If the check shows that a business debtor or creditor is using a private account, that can also be a signal to take a closer look at what is going on.
➔ Extra controls on all (new) employees under the Act on Tackling Embezzlement (WAS)
To prevent people from being exploited and receiving at least the minimum wage, there is a law (the WAS) that prescribes what employers must comply with.
An important part of that law is that employers are required to check that an employee receives money in their own bank account. If you fail to do this as an employer, you could face huge fines. For this too, an integrated IBAN Name Check provides an immediate and secure solution that saves the accountant additional work in the audit.
How can I make my accountant happy with an IBAN Name Check as soon as possible?
Want to get started with the IBAN Name Check right away? You can, with the SurePay portal do all your IBAN Name Checks online You use the PDF with matching results as proof for your accountant, and you do the first 50 checks for free.