Phillip Macmillan is Director in the Data Analytics team at FRA’s London office. He is a forensic investigator specialising in Data Analytics. He has worked in forensic and transactions advisory for 16 years, both at FRA and at two global accountancy firms. He has experience investigating fraud and asset misappropriation, bribery and corruption, financial statement frauds and wider financial crime matters. Phillip undertakes regulator and non-regulator led investigations in multiple sectors (including SFO, CMA, SEC and IMF).
Phillip combines forensic accounting and data science, applying his investigative skills with the latest technology and data analytics techniques to provide unique and tailored solutions to clients. He ensures a forensic mindset is employed at every stage of the data analytics process, allowing deep forensic experience to underly and inform each decision made and effectively interpret the results and insights derived. He founded and built the UK Forensic Data Analytics team at his previous firm Grant Thornton.
Phillip has worked in many jurisdictions across Europe, Asia, Africa, and several engagements in the Middle East in particular, including a Forensic audit into the collapse of Kabul Bank in Afghanistan. In relation to a US$1billion fraud and money laundering scheme, he conducted sensitive interviews to produce a detailed analysis of the regulator’s supervision of the bank, its enforcement capabilities and its application of these in respect of non-compliance with regulatory obligations. He completed an investigation into illegitimate and fabricated transactions at the bank in order to extract funds for personal use and restated the bank’s reported financials, adjusted for impaired loans to provide a true account of its financial position.
Phillip seamlessly employs a combination of data analytics with other investigative tools. One example was on a forensic audit of a joint venture company in the Middle East that produced world renowned food and beverage products. By using data analytics in conjunction with challenging interviews with an obtrusive stakeholder, the forensic audit was able to uncover several instances where the producer had clearly acted against the commercial interests of the local partner over numerous years, in several GCC countries.
Further to whistle-blower allegations in a Southeast Asian subsidiary, Phillip supported a leading UK supermarket chain in investigating the extensive manipulation of commercial income. Data analytics over large datasets provided critical evidence and insights which directed the email review and over 100 interviews in establishing accounting mis-statement, substantial weaknesses in the control environment and multiple bad practices.
Phillip holds a Bachelor’s degree in Economics and Government (Hons) from the University of Manchester and a Diploma in Law and Legal Practice Course from the College of Law (London). He is a Member of the Institute of Chartered Accountants of England and Wales.