Mandate:
The parent company of an international group (turnover 200 million Euros and 1,000 employees) demands that malversation has to be stopped in the Chinese subsidiary.

Client:
International plant manufacturer with revenue of over 200 million Euros and more than 1,000 employees.

Measures:

  • Detection of serious and company-endangering malversation:

    • Acquisition of companies without substance, that belonged to the managers.
    • Already paid invoices not booked.
    • Missing project management system.
    • Incorrect tax returns.
    • Non-transparent and insufficient accounting.
    • Immense warehouse.
    • Fictitious employees.

  • Developing and implemention of action plans.

  • Accounting, tax, and social security audits.

  • Implemented international accounting and reporting.

  • Retained loyal employees

  • Implemented organisational changes

  • Implemented plan to prevent future malversation.

Success:

  • Total damage, discovered in previous quarter, was 4.3 million Euros
  • Secured profitable future of the Chinese subsidiary.

Contact:

Michael Oeschlmueller
Anreitergasse 2
1230 Wien, Austria

+43 (0)677 / 6174 8601
oe@via-momentum.com