Due diligence is probably the most critical stage in the buying process. Many prospective buyers incorrectly identify this period as strictly a financial review, but it goes far beyond that. Due diligence encompasses a far greater project - that being the complete investigation and review of the business. In this article, we have covered an overview of Due Diligence concept along with the basic process to be followed in the assignments of Due Diligence.
Now a day auditing is going to be tough as huge and bulky transactions are carried out by clients so the auditors have to be careful because there is a time limit for completing the audit assignments as well as they have to take care about quality also and prove their professional efficiency.
Systematic Sampling involves selecting items using a constant interval between selections, the first interval having a random start. The interval might be based on a certain number of items (for example every 20th voucher) or monetary total (for example every AED 1,000 in the cumulative value of the population).
The business environment has changed a lot during the last decade. Several hundreds of thousands of businesses worldwide implemented ISO 9000 quality management systems. Many businesses and their suppliers have implemented the Six Sigma methodology. However, the challenge is to improve profitability significantly, to prevent marketplace dynamics such as the dot-com meltdown of 2000. The value of performance measures has become more important than ever.