一、 财务尽职调查

Financial Due Diligence Service

i. 简介 Introduction

尽职调查又称谨慎性调查，一般是指投资人在与目标企业达成初步合作意向后，经协商一致，投资人对目标企业一切与本次投资有关的事项进行现场调查、资料分析的一系列活动。其主要是在收购（投资）等资本运作活动时进行，但企业上市发行时，也会需要事先进行尽职调查，以初步了解是否具备上市的条件。

在整个尽职调查体系中，财务尽职调查主要是指由财务专业人员针对目标企业中与投资有关财务状况的审阅、分析等调查内容。

财务尽职调查的重要性：

1、能充分揭示财务风险或危机；

2、分析企业盈利能力、现金流，预测企业未来前景；

3、了解资产负债、内部控制、经营管理的真实情况，是投资及整合方案设计、交易谈判、投资决策不可或缺的基础；

4、判断投资是否符合战略目标及投资原则。

Due diligence, also known as prudent investigation, generally refers to a series of activities in which the investor conducts on-site investigations and data analysis on all matters related to the investment by consensus, after reaching the preliminary cooperation intention with target enterprise. It is mainly carried out at the time of acquisition (investment) and other activities of capital operation. But at the time of IPO, due diligence is also required to preliminarily know whether the listed conditions are met.

The importance of due diligence:

1. Can fully reveal the financial risks or crisis;

2. Analysing corporate profitability, cash flow and predicting corporate future prospects;

3. Understanding the real condition of assets and liabilities, internal control and operational management, which is an indispensable basis of designing investment and integration scheme, negotiating transaction and making decisions of investment;

4. Determine whether the investment is in line with strategic objectives and investment principles.

ii. 服务内容 Services Content

1、会计主体基本情况

(1)取得营业执照、验资报告、章程、组织架构图

(2)了解会计主体全称、成立时间、注册资本、股东、投入资本的形式、性质、主营业务等

(3)了解目标企业历史沿革

(4)对会计主体的详细了解应包括目标企业本部以及所有具控制权的公司，并对关联方作适当了解

(5)对目标企业的组织、分工及管理制度进行了解，对内部控制初步评价

2、财务组织

(1)财务组织结构（含具控制力的公司）

(2)财务管理模式（子公司财务负责人的任免、奖惩、子公司财务报告体制）

(3)财务人员结构（年龄、职称、学历）

(4)会计电算化程度、企业管理系统的应用情况

3、薪酬政策

(1)薪资的计算方法，特别关注变动工资的计算依据和方法

(2)缴纳社保的政策及情况

(3)福利政策

4、会计政策

(1)目标企业现行会计政策

(2)近3年会计政策的重大变化

(3)与我们的差异，以及可能造成的影响（量化）

(4)现行会计报表的合并原则及范围

(5)接受外部审计的的政策，及近3年会计师事务所名单

(6)近3年审计报告的披露

5、税费政策

(1)现行税费种类、税费率、计算基数、收缴部门

(2)税收优惠政策

(3)税收减免/负担

(4)关联交易的税收政策

(5)集团公司中管理费、资金占用费的税收政策

(6)税收汇算清缴情况

(7)并购后税费政策的变化情况

6、公司经营情况

(1) 审核最近2年或3年的经审计财务报表或/及临时报表。

(2) 检查公司的订单和销售渠道，以便做出更好(更准确)的预测。

(3) 审查与供应商/客户的现有合同。

(4) 可能或正在进行的税务诉讼。

(5) 审查对未来业绩的预测，通常是目标预测。

(6) 或有负债检查。

1.Basic information of accounting entity

1) Obtaining business license, report of capital verification, articles of association and organization chart;

2) Understanding the full name, the time of establishment, the registered capital, the shareholders, the form of invested capital, the nature and the main business of the accounting entity;

3) Understanding the historical development of target enterprise;

4) Detailed understanding of the accounting entity shall include the target enterprise and all subsidiaries it controls, as well as appropriate information of related parties;

5) Understanding the organization, division of labor and management system of target enterprise. And making a preliminarily evaluation of the internal control.

2.Accounting organization

1) Organizational structure of accounting (including companies with control );

2) Management mode of accounting (appointment and removal, rewards and punishments of the subsidiaries’ CFOs, and financial reporting system of the subsidiaries);

3) Structure of accounting personnel (age, title and education degree);

4) The degree of accounting computerization and the application of enterprise management system.

3.Compensation policies

1) Calculation method of salary, with special attention on calculation basis and method of variable salary;

2) The policy and condition of social security payment.

4.Accounting policies

1) Current accounting policies of target enterprise;

2) Significant changes in accounting policies over the past three years;

3) Differences with us and possible influences (quantified);

4) Current principles and scope of current financial statements;

5) The policy of accepting external audit and the list of accounting firms that have worked with over recent three years;

6) The disclosure of audit reports in recent three years.

5. Tax policies

1) Current types of taxes, tax rates, calculation base and departments that are in charge of collecting;

2) Tax incentives policies;

3) Tax relief/burden;

4) Tax policy of related transactions;

5) Tax policy of management fee and capital occupation fee in the group company;

6) Tax payment and settlement;

7) Changes in tax policies after mergers & acquisitions.