Corporate Internal Investigation Forensic Accountant
Corporate internal investigations begin with suspicion, tip-offs, or regulatory inquiries before full scope is clear. Conducting via external legal counsel protects investigation findings under legal professional privilege.
Forensic accountants preserve and analyze financial evidence, quantify wrongdoing, and produce investigation reports advising on self-reporting to SFO or FCA. SFO 2025 cooperation guidance includes facilitating overseas data access and waiving privilege over factual accounts.
Before self-reporting, corporations must understand full misconduct scope, financial benefit to the organization, victim loss quantum, and adequacy of prevention procedures including FTPF compliance from 1 September 2025.
Frequently Asked Questions
Why must an internal investigation be conducted via external legal counsel?
An internal investigation conducted via external legal counsel (rather than directly by the company) is protected by legal professional privilege, meaning the investigation findings and forensic accounting reports are not automatically disclosable to the SFO, FCA, or other regulators. This protection is essential to allow the company to understand its exposure before deciding whether to self-report.
What should a corporate investigation cover before SFO self-reporting?
Before self-reporting, a corporate should understand: the full scope of the misconduct (which individuals were involved and over what period); the financial benefit to the organization; the quantum of loss to any victims; and the adequacy of its current prevention procedures. Forensic accountants establish the financial picture, the foundation of an informed self-reporting decision.
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