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Due Diligence Services

The SobelCo, Forensic Accounting and Litigation Service Group has long provided our clients with professional investigative services to combat fraud, waste and abuse. In conjunction with these services, we have recently been conducting Due Diligence Services to support our clients’ needs. Business Due Diligence has proved to be very effective as an anti-fraud tool, while C-Suite Due Diligence has assisted our clients as part of the hiring process for executive level officers and E-Commerce Vendor Due Diligence has protected critical online strategic partnerships.

Business Due Diligence

In order for a business to reduce risk associated with fraud, waste, and abuse, it must routinely evaluate the many vendor relationships it relies upon to achieve its financial goals and objectives. Understanding both the risks and the benefits through an ongoing evaluative assessment process as part of a strategic plan to increase value and maintain continuity of business operations is a critical component to safeguarding its resources and time. Business Due Diligence can be conducted as a standalone risk mitigation solution to alert clients to red flags for business transactions between individuals and organizations.  It can also be deployed as part of a Comprehensive Due Diligence Service inclusive of our firm’s expertise in Accounting and Financial Statement analysis.

C-Suite Due Diligence

Executive hiring can have a significant reputational and financial effects impact on a business, especially when a board or human resources team doesn’t engage a trusted advisor, to ensure that a candidate is “as advertised.”  The board or human resources team does not want to find out later that the Executive was “not as advertised”.

C-Suite Due Diligence is a tool that professionals involved in the hiring of executive level officers can use to verify the education, background and credentials of the candidate to avoid reputational and financial risks. The reputational risk to stakeholders can have a quantifiable impact on the bottom-line. This risk can be mitigated through a comprehensive and professional investigation to validate the candidate’s educational and professional background as well as bringing to light red flags that would have otherwise not been revealed.

E-Commerce Vendor Due Diligence

According to Kroll in their recent Fraud and Risk Report, one out of five companies surveyed had fallen victim to fraud as a result of a vendor relationship, while almost half “felt particularly at risk of threats such as vendor, supplier or procurement fraud.”  E-Commerce businesses, especially those which operate and conduct commerce from online marketplaces such as Fulfillment by Amazon/FBA have a significant amount of financial risk due to the lack of transparencies among suppliers. Our E-Commerce Vendor Due Diligence Program is a cost effective solution which has been seamlessly implemented into the business process for our clients, giving them the ability to conduct commerce with confidence.