In general terms, a due diligence audit involves the examination of a company in order to evaluate its standing as a business, as well as its financial performance. Anyone who is considering buying a business should undertake a due diligence audit of the business beforehand.
A due diligence audit helps you gain a greater understanding about the business by:
• prospective earning capabilities
• the position and competency of management
• who the company primarily deals with in regards to customers and suppliers
• the assets and liabilities of the business
• the business’ financial position
• the history of the business
A due diligence audit is most commonly used by individuals or firms who are looking at going into business with a company, and wish to know the aforementioned in order to aid them in their decision making process.
If you are considering buying a business, it is important that you seek the advice of a professional. Our dedicated team of lawyers, accountants and auditors can assist you with all your due diligence audit needs. Submit an online enquiry or call us on 1300 QUINNS (1300 784 667) to arrange an appointment.