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Quality of Earnings in M&A Explained in 30 Minutes
M&A Talk (Mergers & Acquisitions), by Morgan & Westfield
The Difference Between an Audit and a QV
An audit is a review to ensure that your books are not materially misstated or in line with expectations. So they give you, they provide to you a certain level of assurance, not absolute, but a certainlevel of assurance thatyour books are correct and not materially misstated. Now if a business owner is just had an audit, do they still need a QV? Often times yes, it can sometimes change the scope of the actual quality of earnings ... But for us, it's sort of seldomly changed our procedures.
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