Build one source of truth

Financial schedules, operating metrics, contracts, and management explanations should reconcile. Conflicting versions undermine confidence and create unnecessary follow-up.

Practice the difficult questions

Management should be ready to discuss customer losses, margin changes, unusual expenses, litigation, employee issues, projections, and dependencies directly.

Protect operating focus

A structured request process, clear responsibilities, and centralized responses allow the company to support diligence while continuing to perform.

Questions for Owners

Questions worth considering

  • Which questions will be hardest to answer?
  • Do narrative explanations agree with the financial record?
  • Who approves information before it is released?