Perform an Economic Analysis
The comprehensive Due Diligence Audit, Part 2 of A Better Due Diligence Process, is used to estimate the costs and rewards for prospective decisions, and also is the starting point to compare future improvements. Part of this system is an economic analysis that should show how such a comprehensive due diligence policy and procedures system reduces risk and increases profits for the organization. It should also confirm that the new system does not create a burden on the corporation’s core business. Elements of the economic analysis establish what additional resources are needed to support any necessary changes.
Competent outside professional service firms should be involved to assist in determining change requirements and acceptable expenditures of budget and time. Such firms play an integral role in the overall corporate due diligence process.
The due diligence department is, in essence, an “intelligent mirror” for all corporate operations.
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Next: A Better Due Diligence Process, Part 4: Objectives of the Due Diligence System
Charles F. Bacon, CEO & Keeper of the Vision
charlesbacon@superdiligence.com
Due Diligence, Inc.
www.superdiligence.com
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