FRP - Forensic Services Annual Review

Case study

FRP assists fraud investigation for AIM-listed company

FRP’s Forensic Technology team assisted with the investigation by imaging electronic devices and hosting email data on our e-Discovery platform, Relativity. We performed targeted searches to assist in our understanding of the events leading up to the creation of fraudulent sales. We prepared a report outlining our findings. Our report was also shared with the client’s auditors to assist with their year-end audit and signing of the company’s financial accounts.

Service activities of a senior sales employee and to review the systems and controls to determine how the alleged fraud occurred. We undertook an independent fact FRP was engaged by an AIM-listed company to investigate fraudulent gathering investigation to establish if the sales were in fact fraudulent and who was involved in the fraud. We conducted interviews with individuals in senior positions at the company and individuals that had regular contact with the senior sales employee to determine the fact base. We obtained documentary evidence to further understand the policies and procedures in place at the organisation.

“This year has continued the theme from 2022 of uncertainty...the ongoing war in Europe, conflict in the Middle East, and more economic and political uncertainty. 2023 has been extremely busy across our national Forensic Services practice. We have welcomed a number of new hires with more due to join us in early 2024, including a new Partner, Faye Hall. We have been instructed on a multitude of significant assignments including a number of high-profile investigations and high value disputes (in the commercial courts and international arbitration). One of the most pleasing aspects of the year, in addition to building out the services we offer and capacity of our team, is that we have demonstrated our joined up approach by delivering forensic assignments (often multi-jurisdictional in nature) across multiple offices.” How has 2023 compared to 2022 for Forensic Services?

“I led the engagement on behalf of an FTSE listed company to investigate historic transactions to assist in determining whether there had been any financial irregularities. I was also appointed as a quantum expert by the respondents, two banks, in a high value LCIA (London Court of International Arbitration) arbitration matter in which a health care provider was the claimant, all based in the Middle East. Another notable case involved our appointment by the board of an AIM-listed business, to undertake a multi-phased investigation into corporate governance and financial reporting.” Which assignments were most notable in 2023?

Christopher Osborne, Partner

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