Culture: Somewhere over the rainbow or are we already home?
A FEW WEEKS AGO, I was writing about corporate culture whilst thinking about the Wizard of Oz, this was inspired by the news there may be a remake ...
During April our research team reviewed the Forensic consulting (accounting, investigations and technology) market in Canada and looked at the forensic services of 15 accounting and advisory firms from the Big 4 to specialist boutiques.
They also looked at the profiles, similarities and differences of over 85 of Canada's senior forensic practitioners with titles ranging from partner, principal, director to managing director. For each firm we assessed their succession plans and looked at each firm's mix of forensic services.
Generally, corporate forensic consulting's constituent disciplines in Canada are similar to other developed markets:
Financial crime investigations,
Regulatory compliance investigations.
Forensic technology, data analytics, e-Discovery
Cyber-response and investigations.
Most forensics practitioners are chartered accountants and there is a comparatively smaller contingent of investigators and technologists, many of whom trained in Canadian law enforcement such as the RCMP.
Most forensics leaders are geographically situated in the financial centre of each province, with nationally the largest city and province populations being in Toronto and Ontario, respectively.
Over one in ten practitioners are from the UK and are, or were when they came over, market pioneers of technically niche disciplines, presently including cyber response and Anti-Money Laundering.
In some of the less populated provinces, forensics is likely to be one of several advisory specialisms of multi-disciplinary advisory accountants.
The age range of partners and directors is in accordance with firms in similarly developed forensic markets. However, some firms are showing a notably broad age gaps between Partners and the next tier of seniority. During the next few years will impact on succession plans.
Given that 1) Fintrac imposed its first bank fine this month for non-compliance and 2) there is a more keenly observed focus on the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, we would also expect there to be an increase in demand for AML related investigations expertise; and if there is an insufficient supply locally, this expertise might have to be imported.
About Carlyle Kingswood Global: We help our clients to hire or acquire exceptional legal, accounting and technology partners, teams and firms. If you would like more information about the forensics consulting market in Canada, if you would like to work in Canada, or are in Canada and seeking to grow your practice, please contact the global practice leader, Chris McCann at email@example.com