Conflict of interest

Identifying conflicts of interest is equally vital when hiring new employees (onboarding checks) and periodically checking in on existing staff (post-boarding checks).

Onboarding checks are extremely valuable to any company, especially when it comes to senior or strategic job positions. Greater attention should be paid to those employees who are potentially high-risk by virtue of their position or authority (for example, procurement, sales, finance, etc.)

Post-boarding checks are often relevant as part of an annual procedure of performance analysis or in circumstances where an employee experiences a change in authority/position (transfer, promotion, etc.)

Background checks are often conducted through open source research (news portals, media resources, state registers, PEP database, etc.), official registers, and corporate databases in order to determine the nature of any conflicts of interest. More detailed checks may involve an analysis of the individual concerned and their relationships (i.e. their immediate family) or connections with current or potential counterparties, as well as any interest in other businesses.

KPMG Forensic professionals conduct a comprehensive analysis of your company’s employees to identify any conflicts of interest at all stages of interaction, which means your company can:

• Prevent or reduce the risk of fraud and unethical behaviour;
• Secure assets;
• Avoid reputational risks and financial losses;
• Strengthen relationships with key stakeholders (both internal and external).