Due Diligence and
Risk Management


The contemporary business environment is characterized by dynamism and complexity. Fast decisions, unforgiving competition, continuous change and a deep network of interdependencies best describe the modern business environment. Under these circumstances, companies are subject to increasing risks of fraud. Vulnerability management and fraud risk management are becoming top priorities. Unfortunately, they are too often overlooked. This is where the Due Diligence and the Risk Management services offered by SPIA Romania come into play.

What does Due Diligence and risk management mean?

Due Diligence involves investigating, identifying and analysing risks in various industries or business segments. Regardless of the business transaction in which the partner is involved, SPIA Romania evaluates the legitimacy and lawfulness of the business, through professional services to verify the company’s compliance.

Why should you request a Due Diligence investigation?

Every signed contract, every acquisition, investment, takeover or merger and every new business partnership brings new challenges. To ensure the integrity of the business and to protect the company from economic, legal and fiscal vulnerabilities, the risk of fraud must be minimized. A stable partnership with a risk management agency can drastically reduce the potential of an illicit business.

Any economic-financial operation come along with risk factors for the company. This opens up the possibility of fraud, tax evasion, embezzlement, white collar crimes or other illegal acts. The only defence against these dangers is the provision of Due Diligence and fraud risk management services.

In what situations do Due Diligence and Risk Management services apply?

The need for Due Diligence services appears in all sectors of business activity. From financial Due Diligence, the analysis of the fraud risk or the tax evasion risk, to the study of the corruption risks, the range of commercial situations in which SPIA can offer this service is extremely varied and complex.

What results can Due Diligence and Risk Management services provide?

Starting a Due Diligence project and Risk Management with SPIA Romania can result in finding crucial information that can save your business from a possible financial or image disaster. For example, the company with which you want to sign an important contract could have substantial debts, uncovered litigation or other unpaid obligations.

Also, the economic or fiscal history of the company or the way of financial reporting could highlight irregularities. These could include non-compliance with tax obligations or legal terms, fraudulent activities, blackmail cases, money laundering or illegal activities at the level of some employees, business partners or even business itself.

All this information could be hidden from the company’s management (or they may not even be aware of it), in which case the misconducts would only be visible after the agreement was signed, when it’s too late. Thus, these irregularities would become serious vulnerabilities for the partner’s business.

SPIA Romania works proactively in order to detect potential changes, deviations or modifications of fiscal behaviour, in order to prevent fraud attempts. Studying contracts with external suppliers, employees or business partners brings to light potential vulnerabilities to minimize and manage risk factors.

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Both Due Diligence and Risk Management are two prevention services, designed to prevent any kind of fraud and to protect a company from threats to its stability.

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Prevention is a healthier and less expensive solution than the serious consequences of vulnerabilities ignored by the company and exploited against it.

Our Process

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1. Let’s get to know each other.

Let’s get to know you and your company. We make sure we understand the needs, then we start a preliminary investigation process and analysis. The purpose is to outline the information about your company, the environment in which it operates, how it operates and the related industry segment, in order to identify risk factors. Everything happens under strict confidentiality!

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2. Risk analysis.

The investigation and analysis reveals information and details that help us correctly identify vulnerabilities. We will present, explain, interpret them to you and, at the same time, we will propose the most suitable plan to help you eliminate the weaknesses of your company. In this stage of the due diligence process, we make sure that the risks to your business have been identified and that your company’s response to these factors will be conducted in accordance with an applied and well-defined strategy.

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3. Risk management.

Together we will form a team and stay with you for implementation. Risk management requires a long-term commitment, and we will be by your side, in order to eliminate risk factors from the company. We want you to be one step ahead of the challenges and we want to make sure everything is set up correctly.

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4. Final reporting.

No due diligence project and risk management is released without a debriefing session with all entities involved in its development and implementation. This is the only way we can be sure that everyone understood their role, what was good and what could be improved. By doing so, we make sure not only that the risk analysis has achieved its purpose and that the risk factors have been eliminated, but also that a culture of prevention of future vulnerabilities and risks has been built. This detail helps us each to advance, to gain experience, to evolve.

What is the role of a private investigator in the Due Diligence process?

The team of SPIA Romania private investigators has the necessary experience, as well as specialized professional training for planning and executing Due Diligence investigations and fraud risk management for our partners.

We use state-of-the-art techniques and the most modern investigative methodologies in order to ensure the accuracy, integrity and completeness of the information we provide to our partners. Thus, we ensure that, at the end of the investigation, our partner is armed with all the data necessary to make a business decision in full knowledge. This way, Due Diligence services protect the business against possible omissions that can have disastrous consequences.

Is the Due Diligence service legal in Romania?

The provision of Due Diligence services and Risk Management is fully legal in Romania. Not only that, but Due Diligence investigations are recognized and regulated practices worldwide.

Moreover, SPIA Romania works at the highest deontological standards, ensuring professional integrity in the services provided. We work discreetly and efficiently, making sure that the investigative process does not disrupt the activity of the partner’s business and does not raise suspicions among possible illicit elements inside or outside the company.

Last but not least, we make sure that we obtain information in full legality, respecting both national and regional legislation, but also international agreements. Under these conditions, the results of Due Diligence investigations are perfectly legal and can be used by our partner for a business decision or even in a legal process.

What happens if we do not use Due Diligence services?

In an ideal world, there would be no need for Due Diligence services. At the same time, in an ideal world, there would be no fraud in the business world. Unfortunately, we do not live in an ideal world, and businesses that do not carry out Due Diligence and Risk Management are left vulnerable to potential fraud.

The vulnerabilities to which companies that do not contract Due Diligence services are subjected to are many. From the risk of financial fraud to the theft of intellectual property, making a catastrophic investment or engaging in an illicit business, which could cost the business fabulous sums of money.

Last but not least, companies that do not protect themselves from fraud are exposed to the risks of bad PR. History shows us many cases of fraud, which have had disastrous effects on the image of a company, sometimes irreparable.

As in any field, in the fight against business fraud, it is better to prevent than to treat.

What activity fields need Due Diligence services?

Literally, every business needs Due Diligence services. As long as the company concludes contracts, acquires, trades, merges or initiates partnerships with other legal entities, it has to manage the risk of fraud, which can only be achieved through specific Due Diligence services.

SPIA Romania has extensive experience in the most varied fields of activity. From insurance or energy companies, real estate agencies to banking institutions, we work with the most competitive business verticals, to ensure a market as safe as possible from the risks of fraud.

What will an agency hired to handle Due Diligence investigate?

In short, everything. Once contracted for a Due Diligence investigation, the private investigation agency will assess the financial vulnerabilities and study the company’s economic and fiscal history, assets and liabilities. It will also be interested in the company’s employees, HR factors, intellectual property, inventory and compliance with the law and economic and financial integrity. Last but not least, private investigators will follow all legal processes as well as the company’s commercial transactions.

By ensuring the completeness of the information obtained, the investigators ensure that the partner has all the data necessary for an informed business decision, in full security against the risks of fraud.

Ask us.