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Case Study: Engineering

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Sector: Subsea Engineering

Assignment: Restructuring of Small to Medium sized Enterprise (SME) following the discovery of financial irregularities

Period: 2016

Background:

During a routine monthly accounting check, financial irregularities were uncovered, which, once addressed, required the restructuring of the Divisional organisation to refocus the business on its core activities and growth.

Assignment:

  • To implement the organisation’s ethics and governance policy following the discovery of the financial irregularity
  • To manage the relationship between the ‘whistle blowing’ staff at Divisional level and the Board of the International parent
  • To manage the change of internal management following the dismissal of the errant Country manager
  • To establish clear and transparent new reporting and communication lines between the Divisional SME and it’s International headquarters
  • To refocus the remaining Divisional team on delivering outcomes in their new roles, on core KPI’s, on product sales and technical support, leading to enhanced turnover and profitability

Methodologies:

  • Review and subsequent challenge to the International Headquarters reporting, monitoring and assessment models within the ethics and governance policy guidelines through one-to-one meetings and workshops
  • Review and subsequent challenge to the International Headquarters reporting, monitoring and assessment models within the accounting policy guidelines
  • Establishing, through external third party experts, the correct legal procedures to follow and implement, including protection of the ‘whistle blowers’
  • Coaching and mentoring of Divisional and International Headquarters Board level staff in appropriate language and corporate positioning in handling the issue of criminal behaviour
  • To manage potential reputation damage internally and externally
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