An online data aggregation platform that scours 20 data sources through 160 search types, including those most commonly used by accountants, is designed to allows users to conduct live, accurate searches on individuals and companies and in-depth ‘know your client’ checks online.

“Accountants are duty bound to submit accurate audited statements and financial reports to clients, financial institutions, and government departments like the South African Revenue Service. However, they cannot do this if they do not have the means to verify the information they are expected to present. Just some of the challenges accountants face include accessing accurate and up-to-date information that is either not in the client’s possession or is withheld,” says SearchWorks MD Sameer Kumandan.

He says that for any finance professional, accessing reliable data is crucial and may include credit checks, deeds checks, exclusive use area verifications, valuations of properties and vehicles, Companies and Intellectual Property Commission, or CIPC, records, qualification searches, anti-money laundering, politically exposed person, or PEP, and sanctions as well as payment profiles.

“In addition, professionals need information obtained within the remit of the law, aligned with the National Credit Regulator and compliant with Protection of Personal Information regulations. A single search can reveal valuable information, relieving accountants from the long hours of checking and cross-checking many data sources,” he says. 

Without full disclosure of a client’s financial circumstances, past and present, an accountant cannot fulfil their fiduciary duties and may run the risk of inadvertently being complicit in committing fraud, money laundering or tax evasion.  Manual searches are time and labour-intensive and verifying client information can be complex, especially if entities attempt to hide assets. Access to up-to-date and accurate data can help mitigate credit risk and improve good governance controls. 

“SearchWorks is a one-stop platform for accountants that is straightforward and easy to navigate,” says Kumandan, adding that the Web-based system is cost-effective and includes complete billing control.