Tao Shen is a Managing Director in the Forensic & Risk Advisory Services practice at FTI Consulting and is based in Shanghai, China.
Tao specialises in accounting, compliance and investigation topics with a specific focus on mainland China. Some of his recent projects include:
- Assisted one of world’s largest telecommunication companies in China through settlement, monitorship and denial order probationary period processes, which included the largest fine ever imposed on a corporation under U.S. export controls and sanctions regulations. Assisted the company conducting internal investigations and building best-in-class compliance programs across its worldwide affiliated companies, with a focus on export control compliance.
- Led teams performing anti-corruption risk assessments at a world-leading Chinese home appliance manufacturer with annual sales of RMB200 billion. The assessment was a group-wide exercise involving several of its product lines and in more than 30 overseas countries.
- Assisted the U.S. DOJ appointed independent Monitor in assessing the financial components of the internal control program at a major consumer product multinational company, following its settlement of more than USD$100 million and the deferred prosecution agreement. Tao contributed significant local expertise during the monitorship assessments in China and Southeast Asia.
- Performed anti-corruption due diligence of a target company’s China operations prior to a transaction of a USD$1 billion global acquisition in the healthcare industry. The due diligence, similar to many others performed by him in the past, involved reviewing financial records, interviewing executive management and auditing third party business partners. He also helped the acquiring company with post-transaction integration and risk remediation.
- Conducted investigations on the alleged fraudulent financial statements for the board members and audit committee of an US listed auto-parts company valued at USD $10 billion, and successfully exposed the group's China division's practices of overstating its earnings through withholding expenses and other liability accounts.
- Conducted internal investigations in the China operations of a U.S. public industrial product company. The investigation concerned potential FCPA violations, falsification of documents for artificial vendor payments and conflict of interest issues. Despite the fact that the investigation was conducted under a crisis situation following a long delayed release of the company’s SEC filings, it was completed in an effective and efficient manner. The client terminated the China executive management as a result of this investigation.
In addition to his extensive experience in China, Tao has also led and worked on many cross-border projects including those located in Asia, Europe and Australia. Prior to joining FTI Consulting, Tao was an internal Audit Manager at Siemens and was based in Beijing. Before that, he worked at KPMG as a Financial Auditor. Tao holds a B.A. in Accounting and Finance from Newcastle University in the UK. He is a Certified Public Accountant in China. He speaks native Mandarin and is fluent in English.