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We were engaged to assist in investigating allegations of fraud by the financial controller of a subsidiary to a internationally listed company.
We conducted a thorough review of the subsidiary’s and parent’s SAGE accounting systems over a number of years and reconciled transactions to emails, bank statements, invoices and purchase orders and other intelligence gathered. The aim of the exercise was to understand the source of a “black hole” in the financial statements and to determine whether this was a case of misappropriation by the financial controller.
We concluded that various transactions which had occurred during the original purchase of the subsidiary had not been accounted for correctly which had led to the Financial Controller manipulating the accounting books and records and spending many years concealing the fact that the subsidiary was potentially insolvent. The case was taken forward on a charge of accounting fraud.