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?