Illustrative findings excerpt
A finding your reviewers can act on.
Fictional case, figures and references. This illustrates the report format, not a client result or measured performance.
- Agreed criterion
- Use the agreed enterprise-value definition: equity value plus debt, less cash.
- Observed work
- The draft reports an enterprise value of $120 million.
- Finding
- Needs correction
- Reviewer action
- Reconcile the $10 million difference before the draft is used. The reviewer decides whether the corrected work meets the agreed criterion.
Inspect the worked comparison
Illustrative case inputs: equity value of $100 million, debt of $30 million and cash of $20 million.
$100m + $30m − $20m = $110m
Under this example’s agreed definition, the result is $110 million. The draft’s $120 million figure does not match. Actual definitions, permitted references and review criteria are agreed with the institution.