Risk, Ethics & Fraud

strategy

Whilst company boards are legally required to consider principal risks and publish the results, we have found that this is often compliance-focussed, rather than practical and action-orientated.

Whether you are working in an emerging market or a well-developed industry with an established regulatory framework, Ivo can help you to understand areas of risk within your supply chain and quickly put in place actions to help mitigate and monitor.

We focus on procurement fraud, integrity due diligence and supply base resilience. Risks from these areas can threaten a business commercially, reputationally and ethically. It is not uncommon for our work to uncover existential risks to a business, sitting unmanaged within the supply chain.

At Ivo, we believe that managing risk means practical, everyday actions rather than an annual exercise in corporate box-ticking.

Our Risk, Ethics & Fraud Services Include:

PROCUREMENT FRAUD
MATURITY AUDIT

Our unique assessment process has been developed in conjunction with lawmakers and industry experts.  We help clients to understand and improve their ability to prevent, predict and manage procurement fraud, corruption and unethical practices.

We undertake structured risk audits and regulatory gap analysis to reveal issues and help to proactively manage them prior to a system failure.

We then work with clients to establish best practice procurement fraud controls and new processes using benchmarks such as the internationally recognised ISO37001:2016 Anti-Bribery Management System.

SUPPLIER INTEGRITY
DUE DILIGENCE

Enhanced due diligence of suppliers, business partners, agents or potential acquisition targets can be critical. Particularly in emerging industries with many new entrants. Our approach helps clients to understand who they are doing business with.

Have they been associated with criminal or unethical acts? Do they have adequate internal procedures to guard against fraud and corruption? Could they be using (or be party to) enforced or child labour? Are the good or services supplied likely to be legitimate?

We carry out deep-data searches to understand ownership (inc. ultimate beneficial ownership), governance structures, anti-corruption systems, watch-lists and excluded party lists etc. Generating a report with our findings and recommendations on practical steps to deal with any areas of concern.

SUPPLY BASE RISK

We help clients to improve their supply base resilience – the management of risk driven by processes or interactions with suppliers.

This often includes reviewing the sourcing strategy for goods and services, standard supplier agreements and contracts, the process of selecting successful suppliers, contingency planning, internal teams and suppliers relationships.

In developing our approach for evaluating, scoring and prioritising supply base risk, we looked to the engineering world, where rigorous testing of systems for potential points of failure is critical. We use failure modes and effects analysis (FMEA) to identify hidden risks and create a prioritised list of issues. This methodical and data-driven process allows us to quickly establish an understanding of your business, your suppliers and identify underlying issues.

Practical Actions

Procurement Fraud | Regulatory Risk | Gap Analysis | Supply Chain Risk | Maturity Assessment | Supply Ethics |  Investigations | Integrity Due Diligence

 

 

LEARN MORE ABOUT HOW WE CAN HELP YOU MANAGE YOUR RISK
CONTACT ONE OF OUR TEAM NOW