Hong Kong consultants in demand to uncover corporate fraud
Consultants are in demand to uncover suspected company fraud and to also filter out applicants with false qualifications seeking top jobs
For politicians, a lapse in integrity can mean public humiliation and the end of their careers. But ethical lapses involving government officials and company executives mean something quite different to one Hong Kong firm.
Verity Consulting says employers are flocking to use its services, including pre-employment checks and corporate fraud investigation, as personal wrongdoing in the political and business spheres hits the headlines.
Managing director Kelvin Ko Chiu said the number of cases it handled in the first half of this year had exceeded the total for the whole of last year.
"When you open any newspaper, they all talk about integrity - of the chief executive or even his predecessor - but not ability. There is such a social propensity, thus, there is such a need," he said.
The company handled 100 pre-employment checks in the first half of this year, up from 80 last year. And more than 80 per cent involved people from the mainland - often applying for senior managerial posts.
The resignation of Yahoo CEO Scott Thompson in May, after an investor revealed that he had not received the university degree he claimed, had raised awareness of the problem of falsified or inflated qualifications, Ko said.
"In the past, they [applicants] bought a certificate. Now, people often hire someone to take the exam. It is really common in international exams," he said.