The Shareholder and Management of the Client engaged Grant Thornton Kazakhstan to conduct a forensic investigation at one of the largest petrochemical plants in Kazakhstan (hereinafter referred to as the "Target Company"). The Target Company supplies its products both to the local market and exports them to countries in the near and far abroad. The Client had concerns about the integrity of the top management of the Target Company. The primary questions that troubled the Client were: Is there a practice of selling products at reduced prices? Are the procurements truly aligned with actual needs and at fair/non-inflated prices? Are there any suspicious transactions? Are the controls adequate to prevent fraud? Are there any indications of control circumvention?
The Consultant identified and reported the following issues:
Chairman of the management Board of the Client:
«The Grant Thornton team demonstrated exceptional professionalism, expertise, and dedication throughout our interaction. They conducted an analysis of key business processes that could have vulnerabilities to fraudulent schemes, reviewed the existence of contract agreements with suppliers and clients under unfavorable terms, identified procurement procedure violations, assessed pricing adequacy, and more. Additionally, we received recommendations from the Grant Thornton team to enhance internal controls».
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