Case Study
Our thorough and sensitive approach to a complex financial misconduct case helped a Rotherham based family run business to pinpoint the source of £70,000.00 worth of losses and take action.
Introduction
A family-run engineering business based in Rotherham faced significant challenges when longstanding financial discrepancies came to light. With over two decades of service, a family member responsible for accounting and office management was implicated in potential financial misconduct. The business owner sought the expertise of OneSource HR to navigate the complex situation and implement preventive measures for the future.
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The problem
The employee, who had been managing the accounts with the support of an external accountant, had a history of illness that led to frequent absences. During these periods, discrepancies in the accounts became apparent. Initially suspecting the external accountant, the company switched to a new accountant who introduced a simple software system to track financial transactions. However, the new accountant quickly identified serious issues, including missing cash, uncashed cheques, and unauthorised bank transfers to the employee's account. Additionally, there were allegations of drug and alcohol abuse in the workplace. Given the employee's familial ties, length of service, and shareholder status, a thorough and delicate investigation was essential.
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The solution
We conducted an exhaustive investigation into the financial discrepancies and other allegations. By meticulously reviewing the accounts and gathering evidence, we determined that, on the balance of probability, the employee had stolen over £70,000 from the business over a three-year period. Despite the employee citing disability as a mitigating factor, we ensured a watertight dismissal process was followed. This thorough approach not only led to the employee's dismissal but also allowed the business to reclaim some of the lost funds through insurance. Furthermore, we provided comprehensive recommendations for strengthening HR documentation and policies, safeguarding the business against future risks.
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