What To Do When You Need To Survive An IBR (Galen Partners Business Guides)

A basic guide for owner managers in dealing with an Independent business review (IBR) by an investigating accountant (also known as a reporting accountant) on behalf of a bank's business support unit.

Many businesses find their relationship with their bank stretched at the moment and, as a result, the perception may be that the bank is not being supportive and in some cases is moving, or has moved, into recovery mode.

So if you are told by the bank that they wish to instruct a firm of reporting accountants to carry out an Independent Business Review (‘IBR’) a number of questions will probably come immediately to mind:
- What is the bank’s agenda?
- Is this the end of the relationship, or even our business?
- What input will we have into, and control of, the process?
- What are the likely outcomes? and
- What will it cost!

It is important to make no mistake about how serious an IBR is for the company; since with the wrong findings, an IBR can be the tipping point that crystallises a potential business failure.

However, a successful IBR can provide a real opportunity to help you to improve your business, set it on a firmer footing and rebuild the relationship with the bank.

So if faced with an IBR it is vital that you both understand and manage the process to obtain the best result.

And that is where this Galen Partners Business Guide can help you.