Exceeding Client Expectations

Modern CPA firms use VALID8 to establish fast, accurate intelligence and deliver superior results.

“Whoever gets the answers first, wins. Velocity is everything.”

Mark Calvert, CPA/Trustee

​Preparing data for the board meeting

Financial misconduct allegations and an initial investigation led to the termination of the Executive Director of high-profile non-profit. A blue-ribbon Board of Directors engaged Cascade Capital Group to investigate executive personal spending. Accounting record keeping was inadequate, the team at Cascade had to start with cash in/cash out directly from the bank statements and prepare a report for the Board of Directors.

​​The smoking gun

Short on time and manpower, Cascade turned to VALID8 and posted all documents into the solution. In less than 24 hours, VALID8 software:

  • Identified 11 accounts from multiple financial institutions over 7 years of activity.
  • Auto-reconciled (to the penny) 312 statements containing over 11,000 transactions.
  • Provided an interactive cash flow visualization from Sources to Accounts to Uses.
  • In less than 24 hours.

The detailed review of bank and credit card statements did in fact identify unauthorized bank accounts opened by the Executive Director, personal spending, and inadequate control structures. The Board of Directors was impressed by the speed and precision that Cascade was able to deliver and further engaged them, beyond the initial scope, to fix/oversee ongoing financial and internal control structure of the entity.

“VALID8 is fast, accurate, and cost effective”

Dennis Mandell, Financial Fraud Investigations

​​The need for speed and accuracy

Hurry up and wait is a good way to describe how almost any expert witness engagement goes down, at IbisViews, it’s no different. As case motions and subpoenas are working through the system professionals are standing by, waiting. Then a subpoena for thousands of pages of bank statements come through and lawyers need answers ASAP. It’s a race to understand exactly what happened and the team that gets answers first has an enormous advantage over the other. But as an expert witness, no matter how fast you get your insight, it has to be based on accurate data that can withstand cross-examination. This is where other solutions have left IbisViews out in the cold.

A complete, end-to-end solution

IbisViews is a small firm focused on providing expert witness testimony for financial litigation and trustee and receivership work. The firm is made up of a group of professionals who are experts in complex financial analysis, not dealing with a mountain of bank and credit card statements. Their clients all wan the same thing.

  1. Predictable costs.
  2. An immediate evaluation/narrative of the situation.
  3. Bomb-proof data that withstands cross-examination

IbisViews has tried a variety of transcription services, specialized OCR software, and manual processes but always end up having to fix errors and manual reconcile data to ensure accuracy, until they used VALID8.

VALID8 not only extracted transactions in a matter of minutes, automated reconciliation algorithms combined with VALID8’s data quality assurance team ensured every single transaction on every single statement was reconciled to the penny. Any changes made are tracked with a full audit trail to prove chain of custody with all transactions linked back to original document page they were extracted from. But most importantly, with interactive visualization, VALID8 simplifies story telling for expert witness testimony.