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Independent Business Reviews (IBRs)
Get in touchAs a firm of chartered accountants and business advisors, we have a wealth of experience in advising businesses that are going through a reversal in their trading performance.
An IBR is often requested by a company’s lender at a point when they have a concern about the viability of the business. The purpose of an IBR is to take an unbiased view of a company’s finances, including their assets and financial forecasts. Most IBRs are completed as part of a company’s general health check and much like a full audit can assist management by providing an independent view on operational or financial changes to aid the company going forward.
You shouldn’t panic if your lender requests an IBR, they are typically carried out when businesses are:
- Negotiating enhanced credit support
- Dealing with pinch points in their cash flow
- Generally suffering a decline in their trading performance
- Behind in sending management information to the lender
- Facing other potential breaches of their lending covenants