Reports and certificates prepared for banks, investors and authorities.
Project reports
A project report sets out the proposed business: the promoters, the product or service, the market, the cost of the project and means of finance, the technical and management arrangements, and projected financial statements.
Reports for bank loans
Banks ask for past financial statements, projected financial statements and credit monitoring arrangement (CMA) data when considering term loans and working capital limits. Financial statements submitted are certified where the bank requires it.
Due diligence reports
A review of an entity before an acquisition, investment or partnership. It covers capital structure, revenue and profits, assets and liabilities, ownership and management, statutory compliance and risks.
Valuation reports
Valuation of shares and businesses for purposes where a chartered accountant’s report is accepted, stating the purpose, valuation date, data and methods used, assumptions and the value arrived at. Valuations required under the Companies Act, 2013 are made by a registered valuer.
Gift deeds
A gift is a transfer of property made voluntarily and without consideration. A gift of immovable property must be made by a registered deed signed by the donor and attested by at least two witnesses, under Section 123 of the Transfer of Property Act, 1882 and Section 17(1)(a) of the Registration Act, 1908. Services cover the income tax implications and documentation.
Certificates
- Net worth, turnover and shareholding certificates
- Certificates for foreign remittance
- Other certificates required by banks and authorities
Questions
Are financial statements needed to apply for a bank loan?
Yes. Banks assess the financial position of the business from its financial statements and projections.
Why is a due diligence report important?
It lets a buyer or investor assess the financial position, liabilities, risks and prospects of the entity before committing to the transaction.