Due Diligence

Due diligence is a crucial step in safeguarding your business interests, particularly when hiring new employees, engaging contractors, or selecting suppliers. It involves a thorough investigation and verification of claims made by potential employees, contractors, or businesses seeking to establish a relationship with you.

Various strategies can be employed when conducting due diligence. Legal due diligence, carried out by a team of legal experts, ensures that all legal aspects and compliance requirements are addressed. Financial due diligence involves financial experts who scrutinize the financial claims and stability of the concerned parties. This multi-faceted approach to due diligence assists in making informed, risk-averse decisions in critical business matters.

The importance of conducting Due Diligence
A 2017 study in the US indicated 60% of all resumes of people in the workplace were inaccurate (CIS). A UK study indicated over 50% of resumes examined had embellishments to the extent the parties falsified the level of expertise or experience.

Risks of inadequate Due Diligence
Fraudulent resumes can expose your company – you can be held liable if you hire someone unqualified to do a job. Your customers could sue you for negligence if someone is injured or suffers detriment because you did not make sure employees were qualified.

ACCA provides a service for general due diligence – what is the history of the person or company? Why is there a gap in the resume? There have been repeated instances of a failure to conduct enquiries into the background of a person or company resulting in the company being exposed to fraud and severe financial losses and affecting the public face of the company.

Fraudulent resumes pose a substantial risk to your company. Hiring unqualified individuals can lead to legal liabilities, especially if their inadequacy causes harm or loss to your customers, potentially leading to negligence lawsuits.

ACCA offers comprehensive due diligence services to mitigate these risks. We meticulously investigate the history of potential employees or business partners, identifying any gaps or red flags in their background. Our goal is to protect your business from fraud and financial losses through thorough and reliable vetting processes.