Standards of Care for Due Diligence in Company Acquisitions - Clark Libenson
The board of directors is entitled to rely upon input of experts, including outside legal counsel and independent accountants, as well as reports prepared by management of the company. The due diligence checklist covers a broad array of topics that are designed to illicit responses from the target company so the target company will either prepare narratives describing certain items of interest to the acquirer or furnished documentation that the acquirer will have the opportunity to review.