Due Diligence

Audits

• Object – Audits have the principle aim of helping the buyer to decide if the operation is feasible and maybe even determine the price.

• At what point do they intervene? The auditors can intervene, either before the formalisation of the agreement as part of an agreement protocol, or after, generally under conditions precedent relating to the accomplishment of the takeover of titles, or of the entry in capital, whatever has been planned.

• What is audited? The extent of the audit will be determined on an individual case basis by the buyer. However, the following points are generally audited:
– the tax, social and legal situations of the company,
– accounting and financial situation,
– its situation with regards to environmental law,
– property rights, which the company has (patents, brands, software, name of the domain technology etc at its disposal),
– the operational situation

• Terms – Audits are more often carried out by external auditors specifically appointed for this job. ACTORIA regularly intervenes on this type of project.

• Cost – The cost of the audit will be the object of discussion between the parties. A foreign buyer will prefer to monitor audits and take care of the corresponding cost.


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