Case study 3: Directors conflict of interest investigation

The investigation focused on the conflicts of interest around the private purchase of the same property, by two Board members whilst the company was still considering the purchase of the same property. The organisation also raised concerns that the two members of the Board had been colluding with a third Board member, who may have also had a private interest in the circumstances surrounding the property.

In our assessment of the facts, we conducted a review of the relevant policies and procedures, relevant Board Meeting minutes and various email communications which detailed discussions between Board members regarding the purchase of the property. We also undertook open-source research to obtain further information on the Board members’ current directorships and shareholdings.

We also undertook interviews with a selection of Board members, reviewing and comparing their accounts of the events that took place and with the relevant policies and procedures. We produced a final report which outlined our recommendations on the matter. The report was used to report and present the findings of the independent investigation to their Regulator in order to show that events of conflicts of interest were being managed appropriately and, the governance structure was in place.

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