Professional Services
FRP Advisory
Full Credential Description
we was engaged by an AIM listed data management company to investigate fraudulent activities involving a senior sales employee, which had raised suspicions of suspicious sales activity. The investigation was critical as the company's shares were suspended during this period. The primary objective was to determine the nature of the fraudulent sales and to review the existing systems and controls to understand how the fraud occurred.
To address this issue, we's Forensic Services team conducted a thorough independent investigation. This included interviewing senior personnel and individuals who had regular interactions with the implicated sales employee to gather factual evidence. The forensic technology team played a vital role by imaging laptops and mobile devices, and utilizing their e-Discovery platform, Relativity, to host and analyze email data. Targeted searches were performed to piece together the events leading to the fraudulent sales, their recognition by the company, and the subsequent market announcements. Additionally, the team reviewed the company's policies and procedures to assess the effectiveness of their systems and controls.
The outcome of the investigation was significant. we prepared a detailed report that confirmed the fraudulent sales were solely attributed to the senior sales employee. This report was instrumental for the client, as it supported their internal findings and was shared with the auditors to facilitate the year-end audit and the sign-off of the company’s financial accounts. As a result of the investigation and the findings presented, the suspension of the company’s shares was lifted, allowing the business to resume normal trading activities.