Review of Due Diligence Best Practices Widespread Outside Russia

Due diligence is a modern professional service provided by audit and consulting companies. In Russia, the practice of conducting due diligence service is a new direction and is gaining popularity. It should be noted that more and more publications are presented every year. For example, the national bibliographic database “RSCI” contains about three hundred works. But this is almost hundred times less than the number of foreign articles. The study of foreign experience is advisable, as it allows you to use knowledge and skills, as well as to implement new ideas for the theory and practice of auditing. The author examines certain aspects of the foreign experience of due diligence. Foreign scientists express conclusions regarding the definition, identifies the features of the organization and conduct of due diligence procedure. The author of the article notes Russian scientists who are engaged in the development of audit and consulting activities. The article also identifies areas for further research. It is advisable to develop a methodology for planning and performing of due diligence to provide a unified approach to conduct procedure and become a guide for auditors and consultants.