Integrity and governance due diligence for investors
Investment brings new markets, people, partners, decisions and pressure. Today's governance may say little about tomorrow. We help investors spot the risks that come with scaling, prioritise what matters and build safeguards that fit.
How we help
Understand the real risks for this type of business in this context, then decide what should happen before, or soon after, investment.
Build proportionate systems around how the company actually operates, then monitor progress and support implementation.
Review the business through a buyer's eyes while there is still time to close gaps, fix issues and build a defensible due diligence pack.
At any stage
A concern, report or audit finding can surface at any stage. We help you assess what has happened, investigate where necessary and decide what to do next.
How we see risk
A country score or policy review can be a useful starting point, but neither shows where this business will be exposed as it grows. We examine what it does, where and with whom; whether its controls fit that context; and how incentives, authority and behaviour affect what happens in practice.
Background checks tell you about past events. Policies show what the company says it has in place.We look at how the business really works, and what changes as it scales.
01Context helps us understand the risks ahead.
Repeated interactions with public systems (registries, environmental compliance, inspections, local enforcement) and contracting in frontier settings can create elevated corruption risk exposure.
If land verification is treated as a legal formality rather than a forensic exercise, the risk of disputes that freeze operations increases.
02Controls tell us what's actually in place.
We summarised Acme's existing controls against the Investor's business integrity requirements and rated how well each one works today.
| Control | Identified gap | Rating |
|---|---|---|
| Risk assessment | Bribery, fraud and conflict of interest risks are grouped together. Action plans are not yet monitored routinely. | Moderate |
| Business partners | Ownership of third-party monitoring is diffuse. Project-level protocols are not yet in place. | Moderate |
| Interactions with officials | Controls rely heavily on training and individual judgement. | Moderate |
| Conflicts of interest | No formal declaration process, register or periodic review. | Moderate |
There is no formal conflict of interest declaration process, register or periodic review.
03See where the real risk sits.
Fraud risk in land and carbon projects rarely starts with forged titles or credits. It tends to start slowly, through procurement, contracting and reporting, where work is remote and third parties act for the project.
Implementing basic controls can bring down the median loss by about 50%.
04Prioritise, right-size, integrate and adapt.
Each action builds on what Acme already has, with a clear deliverable and timeframe.
| Area | Priority | Deliverable | Timing |
|---|---|---|---|
| Interactions with officials | High | A register of licences, permits, inspections and approvals | Under 6 months |
| Conflicts of interest | High | A declaration form and register | Under 6 months |
| Business partners | Medium | A supplier and contractor monitoring framework | 6 to 12 months |
| Detection | Medium | Fraud monitoring and exception testing | 6 to 12 months |
Formalise controls for interactions with public officials, including approval rules, logging and review of engagement patterns.
I worked with Rupert to conduct assessments and advise on integrity issues with our investment portfolio companies. He is particularly skilled at sensitively engaging with firm leadership on very tricky topics.
I appreciate working with Rupert on critical projects in high-risk areas. His expertise and adaptability are impressive. The quality of analysis provided us with a clear improvement plan for our investee; the sector insights were invaluable.
Founder
Rupert brings 25 years of frontline work across more than 80 countries. His experience spans investigations, intelligence, political risk, due diligence, crisis response, integrity risk and human rights.
Rupert is a Certified Fraud Examiner and author of Bootstrapping Ethics.
Structured integrity-risk analysis
Ranulph maps the risks that fit the business, reviews documents and data for gaps, weaknesses and potential signs of fraud, then turns the findings into tailored questions and practical action. It can also reconcile competing action plans, support speak-up and investigation work, and help teams ask better questions across the whole portfolio.
Map the real exposure, then test documents and data for gaps, weaknesses and potential fraud indicators.
Understand what the business does, where it operates, who it works with and how that shapes the risks it is likely to face. Review documents and data for gaps, weaknesses and areas that need further analysis.
Turn findings into tailored questions, a clear gap analysis and a practical action plan.
Draft targeted, right-sized follow-up questions, then identify where controls, implementation, or practice fall short and turn that into a clear, prioritised action plan.
Bring overlapping or conflicting requirements and action plans into one coherent set of work.
Bring overlapping or repeated requests into one coherent set of responses, while making shared points, differences and conflicts easier to see.
Know what's happening in your portfolio.
An agent in the room for board decisions. Load the board pack, however long, and it draws on the rest of Ranulph to tell you what it means and what to do about it. Between meetings, it keeps track of actions, risk indicators, speak-up reports and business partners.
Insights and resources
Rupert Evill joins Ross Butler to discuss due diligence, fraud, corruption and how investors can look beyond policies.
Real interview excerpts showing where useful answers surface, and where they do not.
Why context and interpersonal judgement still matter as AI risk tools improve.
If you think we may be able to help, tell us a little about the situation. We will listen, ask a few questions and tell you whether we are the right fit; if not, we will say so and, where we can, point you in a more useful direction.
We read every enquiry personally and reply as soon as we can.
Please do not send names, allegations or sensitive evidence through the website. We can agree a secure and confidential way to share information after an initial conversation.
