Selling your business is one of the most important decisions you will ever make.
Whatever the reason for exiting – retirement, spending more time with your family, or pursuing other business interests – it is crucial to get your sale right.
Conducting an audit is an effective way to improve your business sale, ensuring that the process is legally compliant and fair to all parties, whilst maximising your profits.
Financial due diligence
Financial due diligence is an important step for business owners planning to exit their business, whether through Mergers & Acquisitions (M&A), succession, or other form of business transfer.
Conducting an audit is an essential part of financial due diligence.
Whilst you can conduct due diligence yourself – and we strongly advise that you do so first – an audit is conducted by someone independent from your business, thus ensuring credibility.
A due diligence audit involves a thorough examination of the company’s financial health, including its assets, liabilities, income, expenses, and cash flow.
This process helps to identify any potential financial risks or liabilities that could impact the value of the business or the terms of the exit – giving you a chance to address these issues.
It also provides a clear and accurate picture of the company’s financial performance, which is essential for setting a fair and realistic price for your business.
Reassuring potential buyers
It is likely that the potential buyers or successors will conduct their own financial due diligence, and discrepancies between their findings and your claims could jeopardise the exit process.
Conducting an audit reduces the risk of these discrepancies occurring.
Potential buyers will be reassured by the steps you have taken to ensure the validity of your business’s financial position.
This increased trust will help you to sell your business for the price it deserves.
Conduct an audit today, boost your business sale tomorrow
Financial due diligence is not only important for understanding the financial state of the business but also for ensuring a smooth and successful business exit.
Conducting an audit is one of the best ways to improve your business sale and maximise your rewards.
Our expert team can prepare an audit, help you address any weaknesses, and advise you on setting a fair price for your business – giving you peace of mind and ensuring that you make the most out of the sale of your hard-earned assets.
Contact us today for expert advice on selling your business and conducting an audit.
