Looking at buying a business - what should be in the CTO and how can I trust it?

[Conor In Dub]

Im currently looking at buying a business and when I contacted the agent I was only sent out a monthly summarization of the of the turnover. This was said to be the "average monthly turnover" and it was signed by the current owner's accountant.

Surely there's more than this offered to potential buyers? The agent is a very well known commercial one by the way.

Many thanks.

 

[MichaelBurke]

Perhaps this is just for the bidding stage, afterwards full audited accounts should be seen, due diligence will be carried out and a look at the business throught the front door too is recommended.

Best of luck.

Michael

 

[ubiquitous]

Perhaps this is just for the bidding stage, afterwards full audited accounts should be seen, due diligence will be carried out and a look at the business throught the front door too is recommended.

Best of luck.

Michael

96% of Irish companies are now entitled to exemption from statutory audit. In the vast majority of these cases there will not be audited accounts.