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Due diligence can be a legal obligation, but the term more commonly applies to voluntary investigations. It may also offer a defence against legal action. A common example of due diligence is the process through which a potential acquirer evaluates a target company or its assets in advance of a merger or acquisition. [1]
This can be costly and time-consuming to both parties. Since due diligence can be a detective game, organizations must find individuals who can detect small issues and opportunities. Organizations sometimes bring in outside experts. [14] The expense of the due diligence process, and the time involved, can be softened by dividing it into two stages.
Due diligence is the amount of diligence required to avoid negligence in professional activities. It commonly arises in major acquisitions where the legal principle of caveat emptor ("let the buyer beware") requires the purchaser to make diligent inquiries about the property or service being sold.
The Standard allows some discretion for each national authority to determine the due diligence approach, but only within minimum standards determined by the OECD: "The term "reportable account" means a [Jurisdiction A] reportable account or a [Jurisdiction B] reportable account, depending on the context, provided it has been identified as such ...
The first cases of COVID-19 were confirmed in Indonesia on 2 March 2020, when two residents of Depok, West Java tested positive for the virus. [4] On 15 March, with 117 confirmed cases, President Joko Widodo had called for Indonesians to exercise social distancing measures, with some regional leaders in Jakarta, Banten and West Java had already closed down schools and places of gathering. [5]
The Corporate Sustainability Due Diligence Directive 2024 (2024/1760) is a directive in European Union (EU) law to require due diligence for companies to prevent adverse human rights and environmental impacts in the company's own operations and across their value chains. [1] It was adopted in 2024. [5]
Specifically, the proposed Corporate Sustainability Due Diligence Directive will cover the same measures as the German Supply Chain Act and is built to level the playing field for ESG initiatives and the people throughout the supply chain.
Due diligence policies and procedures relating to human rights and corruption also appear regularly in organisations' reports, but to a lesser extent than social and environmental policies.