Entitlements to see company accounts

posting for someone else...

If you have an interest in purchasing a company. do you have the right to see the accounts from the companys accountant or do you have to take their word for it (via telephone conversation) when they give you figures

Thanks

SS

Of course you must get the accounts!

shootingstar said:

posting for someone else...

If you have an interest in purchasing a company. do you have the right to see the accounts from the companys accountant or do you have to take their word for it (via telephone conversation) when they give you figures

Thanks

SS

Click to expand...

I would not take any ones word for it. I assume if you were buying a company you would get permission from the seller. The seller would have to give accountant permission to release info and show you business records Should do due diligence on the most recent accounts and Mang accounts.

I would not see any one buying a company without due diligence.

If serious get permisson for your accountant to do due diligence.

shootingstar said:

If you have an interest in purchasing a company. do you have the right to see the accounts from the companys accountant or do you have to take their word for it (via telephone conversation) when they give you figures

Thanks

SS

Click to expand...

Purchasing a company or purchasing a business?
The former - definitely
The latter - only at the discretion of the vendor.

Abridged accounts should be on file on cro.ie

the business is current being sold as a going concern. so im told. Im posting this for someone else. I always seem to be doing that.

The business has been up and running for 4 years now.

shootingstar said:

the business is current being sold as a going concern. so im told. Im posting this for someone else. I always seem to be doing that.

The business has been up and running for 4 years now.

Click to expand...

The books would have to be inspected and due diligence done. I assume he would be buying the shares in the company as if you buy the shares you are taking over the assets and liablities plus anything due to revenue, creditors.

Be carefull get professional advice.