Doing your due diligence when buying an accountancy practice

Colin Howell, regional partner of Business Partnership and qualified financial accountant, outlines the importance of conducting due diligence when buying an accountancy practice, plus tips and a checklist for potential buyers

While there may be many reasons why a buyer wants a particular firm – its location, expertise in a specific area or a lucrative client book - the prospective buyer must do proper due diligence. This process is the most important part of your search and should be initiated at the earliest opportunity and before exchange of contracts or completion of a purchase.

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