Strengthening Financial Governance Across 11 European Markets
Restoring financial control, management accountability and operational oversight within a major European leasing and rental organisation.
The Challenge
A major European vehicle leasing and rental organisation had incurred significant financial losses arising from structural weaknesses in financial controls, deficiencies in audit and governance processes, and management-level financial irregularities.
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The issues exposed gaps in financial oversight, operational accountability and the effectiveness of established control mechanisms.
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The client required an independent assessment of the underlying causes, followed by the development and implementation of a consistent governance framework across its European operations.
Our Approach
Led a comprehensive review of financial governance, operational controls and management accountability, supported by a multidisciplinary team that included forensic accounting specialists.
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The engagement combined forensic financial assessment with specialist automotive operational expertise to identify control weaknesses and develop practical, sustainable solutions.
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The programme covered:
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Financial governance: Management reporting, delegated authorities, financial accountability and audit controls.
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Residual value management: Forecasting methodology, governance, financial recognition and approval processes.
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Remarketing operations: Vehicle disposal controls, sales authorisation and transaction accountability.
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Risk and compliance: Know Your Customer (KYC) requirements, transaction monitoring and control procedures.
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Pricing governance: Controls over vehicle valuations, commercial pricing and associated approval authorities.
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A common operating and governance framework was developed, supported by documented procedures, management responsibilities and audit requirements.
The Outcome
Following approval by the Group Board and Audit Committee, the programme was delivered the governance transformation programme across 11 European country operations.
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The programme established standardised financial and operational control frameworks, clearer management accountability and more consistent audit and governance requirements across the business.
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It provided a structured foundation for stronger financial oversight, improved operational transparency and reduced exposure to future control failures.