A company signed up with the firm, and one of their investors was like, hay, to really check this thing out. And it turned out the founder had been down loading the bank statements,. using adobe to manipulate the numbers. The best actise as an accounting firm or a diligence firm is to make sure that's not happening. Just having the only your accountant should download it directly.
In this hot funding environment, both investors and founders benefit from startups having all the finance basics covered. In this episode, Kruze Consulting COO Scott Orn joins to explain how to prepare for diligence and avoid fraud. They discuss common blockers in diligence (10:19), the benefits of tight financials (23:31) and more!