Why a factory in Jakarta gave me a $4.5M lesson on "Trust but Verify"
The inventory count was perfect. The factory was not. A guide to risk management for Founders
Early in my career, I audited a facility where the inventory count looked perfect on paper. The spreadsheets were beautiful. The variance reports were clean.
There was just one problem.
When I walked the floor (something too many auditors skip), I realized the “inventory” was just empty boxes stacked high to look like product.
That day, I stopped being an Accountant and started being a Risk Strategist.
In 25 years across India and Indonesia—from Deloitte to Unilever—I’ve learned that “Risk” isn’t about checklists. It’s about human behavior.
I’ve seen how a regulatory tweak in Jakarta can freeze cash flow, and how a compliance slip in Chennai can derail a merger.
I’m launching a new project to share these “Battle Scars.” No corporate fluff. Just practical playbooks on:
Cross-Border Growth (Navigating the Indo-India corridor)
Audit Reality (How to actually control fraud)
The “Sleep at Night” Factor for Founders.
If you want the unvarnished truth about doing business in Asia, follow along.
First deep dive drops Sunday: “The 3 Compliance Traps waiting for Indian Founders in Indonesia.”
https://caloganathan.substack.com/
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