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The principal aim of the assignment was to assist our clients in carrying out an investigation into a suspected incident of fraud and corruption 

Project duration: 3 months

The case:
Hibis were approached by an international company operating in the agribusiness sector after one of their key employees resigned following what he described as a stock loss incident of significant magnitude.

What the investigation brought to light:
The initial stock loss suspicion turned out to be a smokescreen to hide much serious malpractice involving senior managers of the company. 


Key findings included:

  • Inventory variances, falsifications and other related misstatements

  • Preferential treatment towards particular customers and suppliers

  • Parallel business activities and conflicts of interest

This malpractice, in addition to the losses caused, instigated a degradation in performance of the company, giving the possibility for suppliers and customers to take advantage of the situation. This also led to a breakdown in internal controls and culture, as well as uncertainty and discontentment amongst the staff, raising a question mark over the company’s viability as a going concern.
Our approach allowed the company to continue production with no unnecessary stops and a minimum level of intrusion. At the same time, the board and the top management was put in a position to take informed decisions, initiate immediate remedial actions and turn around the operation into a healthier and more robust organisation.


Activities performed:

  • Gather preliminary documentation and perform initial remote background checks

  • Perform a short and non-disruptive site visit to conduct fact-finding interviews with key personnel and collect of relevant documentation and supporting evidence

  • Conduct a detailed analysis of the information collected

  • Compile an objective summary report illustrating key evidence and findings 

  • Provide the board of directors and the top management with suggested recommendation and follow-up remedial actions (including assistance in filing a Fidelity Insurance Claim)

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