Timely identification and management of conflict of interest to prevent unethical behaviour and violations at the company
KPMG's Forensic team helps clients check in a quick and qualitative way whether an actual or potential conflict of interest exists with key employees, which allows the company to operate within the legal framework and adhere to anti-corruption laws and business practices and, importantly, minimize losses.
Our goal is to make our clients’ business more profitable and secure by identifying and managing conflicts of interest in a timely manner to prevent unethical behaviour and violations at the company.
It is important to identify conflicts of interest both when hiring new employees (onboarding check) and, periodically, with respect to existing staff (post-boarding check).
Onboarding check is extremely valuable to the company, especially when it comes to senior or strategic job positions. Greater attention should be paid to those employees who, by virtue of their position or authority, are high-risk employees (for example, procurement, sales, finance, etc.)
Post-boarding check can be relevant as part of the annual procedure or as a result of the change of employee authority/position (transfer, promotion, etc.).
Background check is often conducted through open source research (news portals, media resources, state registers, PEP database, etc.), official registers and corporate databases to confirm or refute the existence of conflicts of interest. More detailed check may involve an analysis of relationships of the individual concerned (his/her immediate family), for example, with current or potential counterparties, the existence of interest in other businesses.
KPMG Forensic professionals conduct a comprehensive analysis on the employee of the company to identify conflicts of interest at all stages of interaction, which allows the company to: