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Major Audit Committee Investigations

20 Years in Review: Supporting Boards of Directors and Independent Counsel.

I-OnAsia has significant experience supporting corporate Boards of Directors and Independent Counsel with Audit Committee Investigations.


Sensitive Investigations


* Assisted an executive reporting to the Audit Committee prepare for sensitive interviews of four foreign vendors. The vendors were incredibly important to the business, but were suspected to have cooperated with a former executive of the company in a corrupt scheme. Members of the Audit Committee needed the executives of the four foreign vendors interviewed without disturbing ongoing business relationships. Because the former executive had served a central role in vendor management and the Audit Committee did not have prior relationships with the vendors, I-OnAsia was hired to collect background information on the vendors and their executives. We found evidence that one of the vendor executives had played an instrumental role in setting up shell companies at the center of the scheme. We found insight that another vendor company had actually been complaining about the corrupt business executive's scheme and had the production capacity to deliver more product for a better price. These and other insights were used to inform the Audit Committee's investigative and strategic approach.


* Conducted site visits to an Asian business on behalf of a law firm under an instruction of an Audit Committee. The site visits included foreign language public records research and confidential site visits, interviewing individuals with likely knowledge of the Asian businesses.


* Conducted an investigation into the suspicious death of a member of the Audit Committee. The executive was suspected to have been poisoned. I-OnAsia undertook an independent investigation that determined the cause of death, and provided strategic intelligence and advanced law enforcement liaison support.


* Assisted an Audit Committee with an investigation of circumstances relating to an acquisition of a company. The acquired company was alleged by a Whistleblower to have been founded by the sister of the CEO. I-OnAsia conducted an enhanced background check that verified the sister and other family members were founders of the acquired company.


* Assisted an Audit Committee with a highly sensitive set of interviews. I-OnAsia's staff simultaneously provided local-to-English language translation services and subject matter expertise in the conduct of local interviews of witnesses that were culturally nuanced. I-OnAsia's staff also provided support with evidence collection.


Collect Evidence


* Assisted an Audit Committee collect physical evidence in a foreign country and provide secure transport of that evidence.


Whistleblowers


* Located the current whereabouts of a Whistleblower in Asia. When making a serious complaint, the Whistleblower had provided an incomplete statement and more information was needed to determine the extent of the issues. I-OnAsia located the individual and facilitated additional communication with the Audit Committee's legal representative in a safe and ethical manner.


* Investigated the background of a Whistleblower who had made serious allegations, but whose credibility was unknown. I-OnAsia determined the Whistleblower had a criminal record in Europe, and was confined at home under judicial order.


* Investigated the veracity of a tip submitted by a Whistleblower. Work included a background check on the activities of an executive, a search for personal and corporate assets, and the preparation of a written report.


Physical Security


* Provided trained physical security supervisors and larger special situations trained security team to support a US-based Chief Financial Officer, a senior law firm partner and other external legal and in-house accounting staff with an investigation in Asia. An Audit Committee investigation had been under way at a regional office and local offices in Asia, when threats of violence were made directly by one of the subjects of the investigation, a former key regional executive. I-OnAsia immediately arranged for executive protection for the client's team, providing 24/7 protection between corporate offices, hotels, and airports. Over a period of 12 months, I-OnAsia provided security protection to the team as it returned to Asia to interview key witnesses and liaise with local law enforcement.

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