The helpful resource for turnaround professionals and distressed companies.

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√                   Since January 1996

Reports Due Diligence  One of the reasons for a company to be in a distressed state can be due to executive management making decisions based on bad information.   For the turnaround professional, how can you be confident that the data upon the reports you are given - and upon which you have to make financial decisions - is reliable?   Reports can lack reliability due to honest programmer mistakes or a failure to enter data into the business application (ERP system) along any type of standards, thus causing some data to either be not included on reports or resulting in the wrong data to be included on reports.   While the distressed company may not have performed the necessary due diligence in ensuring reports have accuracy and integrity, this is not something the turnaround professional can simply overlook.   At the start of a turnaround engagement, Katzscan should be brought in to work with the turnaround professional and the distressed company's executive management.  We can perform our own comparative data analysis against existing reports, establish some external reporting systems to supplement - or supplant - existing reporting methods, and examine the business software systems to form an opinion as to the accuracy and integrity of the data.   Performing this, and other due diligence actions, ensures the reputation of the turnaround professional is one of care and caution in looking out for the distressed company's best interests, and helps ensure the success of the turnaround process itself.

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