Clarify the buyer’s assignment
Buying a business creates several possible accounting and tax assignments. Describe the target, proposed purchase form, financing, ownership, and timeline. Ask which work the firm is offering: tax diligence, analysis of proposed terms, financial diligence, integration, or ongoing compliance.
These assignments can overlap but should not be assumed interchangeable. A quality-of-earnings project and a tax diligence project answer different questions. Ask each provider to explain its exact scope and the work it expects other professionals to perform.
Test the diligence deliverable
Ask how the firm reports issues, limitations, and unanswered questions. A useful report separates confirmed facts from areas where records were unavailable. Determine how the team will communicate time-sensitive findings while the project is underway.
Discuss access to target records and the likely quality of information. If the target cannot supply complete documentation, ask how that affects the analysis and what further work may be needed. Do not equate a completed report with elimination of every risk.
- Identify the information request owner.
- Ask who discusses findings with transaction counsel.
- Confirm how diligence limitations are recorded.
Plan the operating handoff
After closing, someone must organize records, system access, payroll, owner reporting, and the filing calendar. Ask whether the acquisition adviser supports that handoff or whether a separate ongoing firm will take over.
Provide the incoming accounting team with the final deal documents and relevant analysis through the agreed process. A transaction team that disappears after closing can leave the compliance team reconstructing important facts months later.
Compare capacity and timing
A good acquisition specialist must have capacity during your actual deal window. Ask when work can start, who reviews it, and how turnaround changes if records arrive late or terms shift. Request a phased estimate rather than a single number that hides several projects.
Choose a firm with a clear relationship to your other deal advisers. The goal is a coordinated decision process that fits your closing calendar and leaves usable records for the business you will operate.
- Next step: request separate scopes for diligence, transaction analysis, and integration.