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Case Study - Financial Planning Company

Service: Forensic Accounting

Background

  • A representative of a financial planning company was accused of inappropriately transferring clients upon cessation of employment to his new company 

Ferrier Hodgson Involvement

  • Ferrier Hodgson was engaged to perform a verification review to establish that each client transferred to the new company gave proper consent to the transfer
  • Identified the clients transferred to the new company
  • Identified the clients who had been inappropriately transferred

Outcome

  • Ferrier Hodgson’s report identified that a number of clients were not appropriately transferred
  • Ferrier Hodgson’s report identified a number of procedural issues in the transfer of clients
  • The report made a number of recommendations to management to resolve the issues identified
  • The report was used by management to assist with reporting to  ASIC
 
Phone:
+61 3 9604 5120
Fax:
+61 3 9642 5887
Email:
david.caldwell@fh.com.au