Financial due diligence is where an IPO either earns credibility or loses it. Our job is to find every issue before the merchant bankers' diligence teams or the regulator do — and to ensure the numbers tell a clean, defensible story.
Quality of earnings.
We analyse the sustainability and quality of reported earnings — separating recurring operational performance from one-time items, scrutinising revenue recognition policies, and assessing the genuineness of margins. The goal is to ensure that the earnings narrative presented to investors is one that will hold up under institutional scrutiny.
Working capital & red flags.
We conduct a deep-dive on the working capital cycle, debtor and inventory quality, and the cash conversion that ultimately underpins valuation. Alongside, we run a structured red-flag review across related-party transactions, contingent liabilities, and any accounting treatments likely to attract questions.
Findings are documented in a way that lets the company remediate proactively — turning potential diligence surprises into resolved, disclosed items.
