Business Plans

Business Plans

Didn't find your answer?

I have produced a number of business plans over the years for businesses which I've worked for as an employee. Recently I have been asked by a new prospect (ie neither a current accounting client, nor an audit client) to produce a business plan which he can present to investors to raise finance.

I will be reliant on the client to provide accurate and comprehensive financial information, along with non financial information to create the plan. I do not intend to audit the source information to ensure its integrity.

Is there a duty of care which I need to follow to protect users of the plan?

Are there PII issues which need to be considered?

Is there a general disclosure which I can use to place the duty of care with the client which provides the source data and puts the responsibility of due diligence on the reader of the report?

Any other risks/ issues which I should consider?

Thanks. Z.

 

Replies (2)

Please login or register to join the discussion.

avatar
By neileg
11th Jan 2012 13:13

Engagement letter

You should set out clearly the scope of your work in your engagement letter. Since this is a one off task, you an be much more specific than in a general accounts/tax/audit engagement.

If I was doing this I would make sure the plan is identified as that of the client and probably wouldn't identify myself in the report.

Yes there are PII issues. You owe a duty of care to the client even if you don't have one to the readers of the plan.

Thanks (0)
avatar
By zelizeli
21st Jan 2012 19:30

Thank you Neileg.
 
 

Thank you Neileg.

 

 

Thanks (0)