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Sir, I came across due diligence review in bpp kit. I want to know if it is the same thing as attestation or direct reporting engagement? Or is it something totally different? What sort of engagement it is?
Due diligence tends to be carried out at the request of a prospective vulture company looking to check the reliability of the historic reporting of the prospective victim and its current performance
Here’s what wikipedia has to say about it – the same as I did but more long-winded!
“A common example of due diligence in various industries is the process through which a potential acquirer evaluates a target company or its assets for an acquisition. The theory behind due diligence holds that performing this type of investigation contributes significantly to informed decision making by enhancing the amount and quality of information available to decision makers and by ensuring that this information is systematically used to deliberate in a reflexive manner on the decision at hand and all its costs, benefits, and risks”
OK?
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