I don't work regularly in the
financial viability function of due diligence, but even without financials or a conversation with the third party accountant, your finance team should be able to run a D&B query or pull a credit report. That at least gives an independent starting point for the financial discussion and your risk position with the vendor.
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L. Beachy
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Original Message:
Sent: 09-09-2020 01:42 PM
From: Travis Hulse
Subject: Financial Reports
They should be able to provide a letter from their cpa stating the going concern of the company if they are unwilling to share financials.
Things that you could/should be doing even if they send the financials would be to look at the industry the vendor is in to see any trends, any news reports concerning the vendor.
This would still be a higher risk because of the unknown, but you should be able to see trends and any concerns. and then you have the ability to discuss "what if" scenarios the financials were terrible compared to stellar financials..
Original Message:
Sent: 09-09-2020 08:40 AM
From: John Boney
Subject: Financial Reports
Can anyone share the documents you're gathering on private vendors who won't give you their financial statements?