A unique investigative business service to help companies and business individuals bring reckless company directors to book has been launched.
Accountancy and business adviser firm Adams Moore, based in Tamworth, has launched SpecificStudy as a result of a growing need for investigative work and objective studies into a business or individual’s financial circumstances, by an interested party.
SpecificStudy covers a wide area of investigative work, including business valuations, business Investigations on behalf of shareholders and due diligence reports for clients looking to purchase a business, among other services.
Adams Moore partner Martin Crook said: “This new service has been born entirely from demand. We have found increasingly that there is a need for an all-encompassing offering that combines a variety of services.
“In short, there are often cases where a minority shareholder may be being kept in the dark about certain business aspects, and needs an unbiased and objective report on a business, or there may be a situation whereby, in a case of divorce, one party believes they may not get a fair share of a jointly-owned business if full details of the business accounts are not being disclosed. It is combining accountancy skills with investigative work to allow business stakeholders to access the information they hold the right to.
“In recent times we have had a case where a client was looking to purchase a competitor. This purchase would allow our client to gain increased market share. We were employed to advise on the purchase and through our investigations we discovered that although the company was apparently very successful, the underlying financials and business model were not. Our advice to the client therefore was to not go through with the purchase. Within six months the competitor had gone into administration.”