Forensic helps member firm clients identify potential financial misreporting and establish the compliance baseline underpinning relationships.
Forensic helps member firm clients identify potential financial misreporting and establish
Unprecedented growth across the GCC has resulted in organizations expanding regionally as well as globally. Business transactions are no longer simple. Revenues are often derived based on self-reporting relationships. Regional companies, like their global counterparts, are witnessing substantial revenue leakage because vendors, distributors, and licensees fail to meet their full contract obligations. Most business partners or customers do not do this deliberately.
Third parties are often working under highly complex contracts, where the requirements are not clearly identified or key responsibilities may be overlooked. In other cases, contracts may not reflect changed circumstances. No matter what the reasons, third parties can exert significant control over an organization's costs and revenues.
Relying on third parties to report on the revenues they owe you creates significant risk of underreporting. While underreporting can be deliberate, in most cases it results from miscommunication, misunderstanding, or even a lack of incentive to report accurately. Regardless, inaccurate business partner or customer reporting can have a significant impact on your financial results. One estimate suggests that as much as 70% of self-reporting by business partners or customers is inaccurate.
Our approach adds value to strategic business relationships by: