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What do you mean by due diligence? What are the situations its applicable?

Accounting
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Question added by manaf almas , Auditor , DAR AL NUZUM PUBLIC ACCOUNTANTS
Date Posted: 2016/11/15
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Omar Haymour
by Omar Haymour , Accounting Manager , Qatar Public Relations

due diligence in essence means "know what you are getting into"

so, you "due diligence" a new client, or supplier, or partner.

also "due diligence" in internal control is to understand the system as it really is, and know the contributors.

investigation type of work.  

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