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Corporate Social Responsibility Assessment
Everyday Due Diligence E-Book Tool
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Standard Due Diligence Processes
Although the term “due diligence” is most often associated with mergers and acquisitions, in a broader context, every important decision (e.g., hiring employees, selecting suppliers, selecting software, etc.) should be supported by substantial, valid due diligence processes and data. The type and nature of each due diligence process is influenced by the varying needs and particular objectives of the organization.
Unfortunately, traditional due diligence processes have historically been limited in their application, and have been exceedingly inconsistent, immensely inefficient and decidedly focused on only extremely limited aspects of the due diligence process (e.g., legal issues, statutory requirements, regulatory requirements, etc.). This has led to most often producing erroneous or incomplete data, leading to inaccurate assumptions, upon which management decisions were based with disastrous consequences. Recognizing this industry-wide problem, Charles F. Bacon initiated the process to create due diligence standards for more consistent and efficient due diligence.
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Designed to provide a solid foundation upon which to base any and all due diligence process, these standards are intended to serve a broad range of interests, including executives, managers, boards of directors, shareholders, attorneys, accountants, business brokers, commercial bankers, investment bankers, mergers and acquisitions firms, private investors, venture capitalists, and any other parties interested in the new due diligence process.
This standard was developed with the goal of improving due diligence through providing a structured, systematic due diligence program of planning, identifying, prioritizing, collecting and analyzing appropriate, relevant, necessary data; providing a consistent, more efficient, and methodical approach supporting fundamental decision management.
The adoption of a formal due diligence program should be a strategic initiative by the decision-makers of every organization with an aim of adding structure to the decision management process. Once established, the due diligence program should become an integral, ever-present facet of the organization's strategy, assisting management through every decision; and will create significant improvement in the organization’s capabilities, risk reduction, agility, morale and profitability.
Certified Due Diligence Professional Exam
The Certified Due Diligence Professional Exam
