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Investigation into Subcontractors and Responsible Individuals Reveals Red Flags

A comprehensive investigation has been launched to scrutinize both existing and potential business partners, as well as their subcontractors and responsible individuals. The inquiry aims to uncover any potential risks or issues that could impact the company’s reputation and interests.

Key Areas of Investigation

The probe will cover a range of areas, including:

• Head Office: A thorough examination of the company’s headquarters and operations.
• Red Flags: Identification of any warning signs or indicators of potential issues.
• Negative Reporting in International Press: Review of media coverage to identify any negative reports or allegations.
• Sanctions Lists: Checks against global sanctions lists to ensure compliance with regulations.
• PEP Lists (Politically Exposed Persons): Investigation into individuals involved, including those on PEP lists.
• Results and Balance Sheets: Analysis of financial records to identify any discrepancies or red flags.
• Assets and Liabilities, Budgets: Review of financial data to ensure accuracy and compliance.
• Work Processes: Examination of business practices and procedures to identify areas for improvement.
• Qualification of Employees: Verification of employee qualifications and background checks.
• Company Image: Assessment of the company’s reputation and public image.
• Quality Control: Investigation into quality control measures and processes.
• Board Members, Shareholders, Beneficiaries: Scrutiny of individuals involved in the company, including board members, shareholders, and beneficiaries.

Who Can Help with the Check?

Due to the complexity of the requirements, it is recommended that companies seek assistance from trained staff or external advisors, such as:

• Tax consultants
• Auditors
• Lawyers
• Technical experts
• Management consultants

Due diligence checklists are also available to provide a starting point for the investigation.

Costs May be Tax-Deductible

Companies may be able to deduct due diligence costs from their corporation tax bill if they are charged to the profit and loss account and are used for the good use of the trade or business.

Investing in Technology

A manual due diligence process can become problematic if a company lacks sufficient resources or access to relevant information. To overcome these challenges, companies should consider investing in technology to automate checks, support investigations, and ensure continuous risk monitoring.

Third-Party Due Diligence Software

Our third-party due diligence software is designed to provide valuable insights and reports that inform business decisions. Our team of experts can assist with the investigation process, providing a confidential, impartial viewpoint that complements internal resources.

Forms of Due Diligence Check

The most common forms of due diligence checks include:

• Economic, technical, and organizational due diligence
• Checks of managers and staff
• Legal and tax checks
• Operational due diligence (ODD) to assess risks and potential appreciation
• Market due diligence to explore current and future market position

Due Diligence Process

The investigation process typically consists of three main steps:

1. Identification: Gathering information about the company and its operations.
2. Sanctions List Check: Verifying compliance with global sanctions lists.
3. Risk Assessment: Evaluating potential risks and issues.

Due Diligence Report

The final report will provide a detailed summary of the investigation, including any findings or recommendations for improvement. The scope of the report will vary depending on the specific needs and requirements of the company.