Whistleblowing Channel or Speak-up Line

Alongside major success stories, organisations can also face various internal and external fraud and other corrupt practices that can negatively affect the organisation’s financial performance, but in the worst case, even lead to bankruptcy or liquidation.

External fraud can be, for example, cyber attacks, fraudulent letters, fake invoices as well as fraud by (business) partners. The most common forms of internal fraud are asset misappropriation, embezzlement and corruption. Less common but severely threatening to the survival of the company are financial statement fraud and money laundering. All of these are even more perilous due to the fact that these forms of fraud usually take place over a long period of time, sometimes for several years, before being discovered. It was identified in an international survey that the median loss caused to an organisation by fraud amounts to around $100,000 per year (ACFE* Occupational Fraud Report 2022).

Difficult times in the economy usually increase the risk of fraud. 

Establishment and maintenance of a whistleblowing channel

• We offer an online whistleblowing channel, which is a reliable, secure and user-friendly way for your employees and partners to report their suspicions.
• The whistleblowing channel complies with the necessary cybersecurity and data protection rules, allowing, among other things, encrypted messaging with the whistleblower and the sending of documents.
• Reports can be submitted 24 hours a day, 7 days a week, both confidentially and anonymously, and in different languages if necessary.  

Initial handling of reports

• We offer independent initial handling of reports, including verification and clarification of the facts provided by the whistleblower.
• On the basis of the collected information, we prepare an initial summary, which enables the responsible persons in your organisation to decide how to proceed.
• We send a confirmation about receiving the report to the whistleblower in accordance with the requirements of the legislation.  

Full investigation of reports

• If necessary, we conduct an independent investigation of the report, where we collect documentary evidence from various data sources and databases, as well as conduct interviews with people who have or may have relevant information.
• We can start investigating the report within 48 hours after the governing body of your organisation adoptions the relevant decision.
• If necessary, we involve in the conduct of the procedure experts from other areas of KPMG who are able to collect and examine IT evidence, have a thorough knowledge of the financial or tax system or have other specific skills, knowledge and experience.
• At the end of the procedure, we prepare a comprehensive investigation report in which we present our observations in a clear and understandable manner, including an overview of the most important evidence.
• We also send feedback to the whistleblower on the follow-up measures applied on the basis of the report in accordance with the requirements of the legislation. 

Other additional services related to introducing a whistleblowing channel

• We assist you in preparing the internal rules for whistleblowing, including, if necessary, a brief introduction to the most important principles and rules of whistleblowing.
• We provide training to the employees of your organisation, during which we will talk about the need for the whistleblowing channel and the principles of its use, as well as explain the different stages of the whistleblowing process and how to ensure the protection of the whistleblower.

What clients have told us about our services*

1. Reporting of suspicions and handling of reports appear to be more transparent and objective for employees.
2. The processes of receiving and handling reports are more clearly established and no person or event-specific exceptions are made.
3. An external party conducts the procedure and makes proposals more objectively, more easily captures the whole picture and is not affected by any personal or taboo issues in the organisation.
4. The handling of reports is carried out using a common methodology, based on the significance of the problem, and provides an assessment of whether the process works or not.
   
5. When handling reports and making proposals, the focus is on the risks of the company, and the materials are also analysed and evaluated with a view to the company’s efficiency.
6. In external party interviews, it is easier for employees to open themselves up in the style of: “I'll speak honestly because this procedure seems to be external.”
7. External party opinions have more weight for the company’s management and are taken more seriously than those of an in-house employee or department.

* The client data is confidential.