In the wake of high-profile business failures like Carillion and Patisserie Valerie, scrutiny from auditors has increased.
In accordance with Auditing standard ISA 250, auditors are spending more time addressing non-compliance, or often potential, non-compliance with laws and regulations.
Separately ISA 240 requires auditors to assess how seriously businesses take potential breaches of law or suspected fraud, meaning that businesses will need to demonstrate a robust response to dealing with incidences of potential fraud.
If concerns are raised, your business must be ready to respond with clarity, speed, and credibility.
That's where Dains Forensic can help.
With theft and false accounting frauds on the rise – up over 20% and 30% respectively in the past two years (ACFE survey) – robust, proportionate action is more important than ever. Whistleblowing allegations, even if unfounded, need to be handled quickly and professionally to protect your business.
How Dains can support you:
An initial triage conversation to assess the nature and credibility of the concern
Independent investigation tailored to the circumstances – including reviewing financial records, email and message traffic, conducting interviews, and gathering business intelligence
Clear, documented findings you can share with auditors to demonstrate a responsible and proportionate response
In many cases, the outcome confirms no wrongdoing – and no further action is needed. But being able to explain why, and how, you reached that conclusion is critical to minimising audit disruption and safeguarding your reputation.
These issues often arise late in the financial year – sometimes while audits are already underway. We understand the urgency and are ready to act fast, adapting our approach to meet your timelines without compromising on quality.
One recent plc client told us: “Dains undertook a comprehensive investigation that gave the business the ability to move forward”.
If you're dealing with potential fraud concerns and need a trusted, experienced partner to support you, get in touch for an initial, confidential conversation.