What exactly is FDD? I am confused about the different names the firms call these positions

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FDD typically falls under transaction advisory services, transaction services or transaction diligence.

It is just one piece in the broader M&A cycle. In a very simplistic view, sponsors hire a firm (a bunch of accountants) to do a Quality of Earnings analysis so that they can essentially get an EBITDA number to base the valuation off of and a net working capital analysis to peg NWC prior to sale

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Exactly ( deal advisory)

Basically a backward looking accounting audit of a transaction. Outside USA there will also be some forward projections review

Accountants are pretty stigmatized in the US though by people in those sort of jobs. Idk if that’s the case in the UK or Canada.

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