Standards

Independence & Conflict Standards

A transaction advisor should be clear about which side of the table the engagement serves, how the advisor is paid and whether another relationship could affect the work.

Define the client and role

Buy-side diligence serves the buyer’s decision. Sell-side readiness serves the owner’s preparation. The scope should make that distinction explicit.

Screen opposing engagements

The same transaction should not receive opposing advice from the same engagement team. Potential conflicts should be identified before work begins.

Disclose economic incentives

If a fee is contingent on closing, financing, valuation or another transaction outcome, that incentive should be disclosed.

Keep conclusions independent of transaction momentum

A negative finding should not disappear because the deal is advanced, emotionally important or expensive to abandon.

Coordinate without surrendering judgment

Brokers, attorneys, lenders, accountants and advisors can collaborate, but each professional remains responsible for the questions within their scope.

Independence is not a slogan. It is clarity about who the work serves and what incentives surround the conclusion.