From the course: Audit and Due Diligence Foundations
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Due diligence (DD) differences
From the course: Audit and Due Diligence Foundations
Due diligence (DD) differences
- Have you ever wanted to be like James Bond and have a code name? Well, if you work on a due diligence project, you might get one, or at least the project will. Because due diligence projects are important for mergers and acquisitions, people often use code words to talk about them because if the deals became public, public company stock prices could rise or fall, and there's often a lot of money on the line. The use of code names is just a minor way that due diligence deals can be different from audits, although even some auditors will occasionally use code words. In all, there are five big differences between due diligence projects and independent audits. The first big difference is tied to the project guidelines. Unlike an independent audit, there are no formal guidelines for due diligence projects that are set out by the SEC or the AICPA. In fact, a company can do the due diligence evaluation of its own acquisition…
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