What happens if our financial statements are not yet finalised?
The required financial documentation is needed to complete the due diligence review. If required annual financial statements have not yet been finalised, this may delay the start or completion of the review and therefore the subsequent offering process.
We therefore recommend checking before signing the contract which annual financial statements are already available and when any outstanding statements can be completed. Where necessary, involve your tax adviser at an early stage of the planning process.
Can preliminary management accounts be used?
In individual cases, it may be possible to assess whether current management accounts can temporarily be used as an interim solution. Whether this is possible depends on the specific circumstances and the documentation required for the review.
If annual financial statements are still outstanding, please inform your Financing Manager as early as possible. This allows the team to determine which review steps can already be carried out and which documents must be submitted before the review can be completed.