Not just numbers...

...peace of mind ©

Remote company review

In many situations, it may be difficult to obtain access to a company for overt observation or it may be desirable / expedient to conduct research on a company without its knowledge. In such cases, the ECFO team has a number of fact-finding offerings which rely on a combination of publicly- available information and non-invasive research methods. Remote company review is also useful as the first step in a multi-stage due diligence effort, to screen potential investees and identify those that are worth additional expenditure of time and effort.

“First-pass” review of public filings: For publicly-listed companies, ECFO analysts review recent annual / quarterly reports, tax filings, press releases and other publicly available information to identify key drivers of success, risk factors in the business model and inconsistencies in information. The deliverable is a briefing which can be used as a “go / no-go” on further research, as a supplement to a separate due diligence or audit effort or by the company itself as an additional, non-invasive financial control.

External analysis of private company: Whether as a first step in due diligence or as an additional measure of internal control, ECFO can conduct a critical review of a company’s financial statements and other select data sets on a one-off or repeating basis to develop a view of overall health of the company and to flag areas of concern. Since the external analysis does not involve a company visit, interviews with personnel or any other on-site work, it has the advantage of improving visibility into the operation without causing disruption.

Financial statement analysis and league table: Third-party review of financial statements in isolation and in comparison to similar publicly-listed companies can be a good barometer of performance and can help companies to zero in on potential areas of improved performance or tightened control. In a mergers and acquisitions context, preliminary financial statement analysis can be used to prioritize investees and sharpen focus during upcoming due diligence.

Discrete observation and fact finding: ECFO can organize and deploy multi-disciplinary teams throughout China and Eurasia to collect observations and develop original data sets with the goal of compiling information on an outside company or a company’s own subsidiary in advance of a merger, acquisition, restructuring or other transition. The fact-finding assessment normally relies on a combination of webbased research, phone calls and “near site-visits,” as well as extensive off-site analysis to develop a verifiable view of the company without detection by the company under observation.