How we uncovered a $416,000 fraud and helped a family business survive
The books said the business was profitable. The bank account said otherwise. Six days after the owner asked for an investigation, there was enough evidence to hand to police.
Where they started
NN Accountability was appointed to prepare the tax return for a family owned marine electrical business. The warning signs came almost immediately. The bookkeeper delayed system access for months, bank statements never arrived, and basic questions went unanswered.
When the owner raised concerns about unusually high Business Activity Statement figures, the team ran a full audit of both the Xero and the MYOB files. Over six days it uncovered evidence of systematic fraud that would later lead to a criminal conviction.
The business ran two accounting systems at once. That is what made the fraud possible, and it is also what made it hard to see: a payment concealed in one file looked ordinary in the other, and nothing reconciled the two.
What we found when we opened the file
What we did
What it produced
Where a figure is not on record, the change is described in words. No percentage is estimated and no metric is invented.
Most business owners do not suspect fraud. They just know something does not add up. By the time they ring us, they have usually been carrying that uneasy feeling for months.
Nikoletta, Director, NN Accountability
When to consider a forensic review
If any of these sound familiar, your instinct is worth listening to.
- Your activity statement, your Profit and Loss or your cash position keeps telling a different story to your bank balance.
- A trusted employee or contractor controls your books, your bank uploads and your payroll, with no independent oversight.
- You have noticed unexplained payments, supplier names you do not recognise, or transactions that have been moved or recoded.
- Someone is reluctant to give you, or your accountant, full access to the accounting file or the bank statements.
- You suspect fraud but have been told there is nothing to see, or that you are imagining it.
- You are heading into a court matter, a divorce, a partnership dispute, an insurance claim or a sale, and you need numbers that will be defensible.
Independently verified
“Betrayal” busts business
Jail for employee whose theft of $400k has left company reeling
Gold Coast Bulletin, October 2024 and February 2026
The forensic work formed part of the evidence the Crown relied on in securing a conviction.
NN Accountability is one of a small number of bookkeeping practices in Australia with the technical depth to investigate concurrent fraud across two accounting systems and produce evidence suitable for Queensland courts.
About the forensic accountant
Nikoletta is the founder and director of NN Accountability, a qualified public accountant and a member of the Institute of Public Accountants, and a Justice of the Peace (Qualified) in Queensland.
The specialism is accounting software setups, migrations and forensic audits across MYOB and Xero. That is the technical ground this case was won on: knowing both systems well enough to see what one was being used to hide from the other, and to reconstruct it in days rather than years.
Every forensic engagement is handled personally by Nikoletta, with discretion throughout and a methodical, court ready approach.
What clients say about working with us
NN Accountability has been our trusted partner for over a decade… Their in-depth knowledge of Xero and commitment to automation has saved us time and reduced manual errors. The team at NN Accountability is reliable, professional, and genuinely committed to our success.
ANCOLD
NN Accountability has been more than just a bookkeeping service. The real value they bring? Peace of mind. We know our books are accurate, our systems are compliant, and we have a responsive, knowledgeable team in our corner.
Puremedic Health
They've been an essential part of getting my business up and running. It genuinely feels like they're part of my team rather than just an external service, and that level of support makes a big difference.
Airnergy
NN Accountability guided Cheltenham Golf Club through a migration from MYOB to Xero, tailoring processes to suit the complex needs of a non-profit. Financial systems are now more efficient, compliant and audit-ready.
Cheltenham Golf Club
She came HIGHLY recommended to me by a friend I really trust, and I'm so glad I switched over to her for my business and personal tax needs. What's more, she's a really lovely human being, very easy to talk to, very friendly, and you can tell she really cares about you.
Andy
Nikoletta was so patient and kind with me and helped me fix up a REAL big mess I had made in my Xero account. I feel a massive weight has been lifted as the numbers finally make sense, and I finally understand what I need to do to reconcile my accounts moving forward. Highly recommend NN Accountability team for Xero Training and Support! Thank you, Nikoletta!!
Nikita Pere
I have been dealing with Nikoletta since 2021. She has a thorough knowledge of company and trust structures and taxation, as well as exceptional knowledge of Xero. Her expertise has been invaluable to my business. I have found NN Accountability excellent to deal with. Before appointing them, I researched other firms extensively, and their services are well above the standard I found elsewhere. If you are looking for a professional, knowledgeable, and reliable firm, I highly recommend them.
John Archer
Nicky and her team are so efficient and knowledgeable, I'm so grateful that I found them. Their communication is also very clear and they always make themselves available to answer my questions, which provides me with a lot of confidence in every step of building my business. Would highly recommend their services to anyone.
Michelle R
Other work
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