Results analysis
- Deliverables
- Reconciliations, recurring or one-off items and documented adjustments.
- Decisions it supports
- Understand the figures presented.
M&A and financial due diligence
Assess a transaction on reviewed data.
Buyer, business leader or seller: we help organise and analyse the financial information relevant to your transaction. The assignment distinguishes preparing the file, financial review and other advisers’ work.
An initial conversation to understand your situation and next steps.
When should you commission financial due diligence?
For sellers, preparation organises documents and explains the accounts. For buyers, financial review examines results, debt, working capital requirements and assumptions. Preparing the file does not replace independent due diligence.
- You need to understand a target’s results and commitments.
- You are preparing a data room and answers to financial requests.
- An acquisition requires post-transaction reporting and responsibilities to be organised.
Earnings, debt and working capital analysis
Deliverables are agreed during scoping, according to your priorities and available data.
Cash, debt and working capital
- Deliverables
- Schedules, seasonality and identified commitments.
- Decisions it supports
- Examine requirements and issues to investigate.
Review summary
- Deliverables
- Questions, assumptions, missing data and matters for advisers.
- Decisions it supports
- Prepare decisions and subsequent work.
A documented engagement: SolarMente
Multiple-scenario financial model, data room and board reporting
Strategic finance leadership and management of the finance function. Series B financial preparation: multiple-scenario modelling with decision triggers, data room, coordination of due diligence, valuation and term sheet negotiations. Execution of the Eltex acquisition in 2024, from sourcing to finance integration. Integration of Stripe, Payhawk, PayFit and Vuala. Weekly involvement and participation in management committees and board meetings.
Manage an international Series B in an unstable regulatory and macroeconomic environment, while also pursuing an acquisition and building a finance function that did not yet exist at this scale.
Read the case and its scopeHow does financial due diligence work?
1. Define the assignment
Clarify the transaction, recipients, accessible data and expected analyses.
2. Examine and document
Reconcile information, analyse the agreed matters and organise questions.
3. Present and hand over
Present findings and limitations, then organise additional work or integration.
Financial analysis with explicit limitations
Legal, tax and employment matters involve relevant qualified advisers. Recipients, responsibilities and deliverable usage conditions are specified in the assignment.
Valuation relies on methods and assumptions that need explanation. Price, negotiation and transaction success are not guaranteed by the review.
How this fits within a Fractional CFO engagementWhat does financial due diligence cost?
Fees and timing depend on scope, entities, available documents and expected discussions. Data room preparation, buyer review and integration are distinct workstreams to quote.
View CFO pricingFrequently asked questions: M&A and due diligence
Are preparation and due diligence the same engagement?
No. Preparing a file organises and explains information. An independent review examines it for its recipients under a separate assignment.
Can you support the buyer?
The scope can include financial review of available target data, issues to watch and analyses relevant to negotiations. Conditions are defined during scoping.
Which documents are needed?
Accounts, reporting, schedules, customer and supplier data, forecasts and documents supporting key items. The list is adapted to the transaction and assignment.
Useful resources
Published by Iter Advisors · updated on
Which decision or deadline are you preparing for?
Describe your needs, current organisation and calendar. We will identify useful work together.
Describe my needs