Services
Financial model review
An independent review of someone else’s financial model or business plan: formula errors, weak assumptions, risks. Fixed fee and timeline, and a written opinion.
- Fixed fee
- agreed before we start
- 1 business day
- to quote fee and timeline
- Opinion + list of fixes
- deliverable
When you need a review
Before investing
You have been shown a project model and asked for money. You need to know how far the forecast can be trusted.
Before borrowing
The model is going to a bank. Better to find the errors before the credit analyst does.
Before buying a business
The seller justifies the price with their own model. We check what stands behind the numbers.
Before your own decision
The model was built by staff or a contractor, and a major decision rests on it.
What we check
- Formulas: errors, hard-coded numbers in place of references, breaks in calculation chains.
- Integrity of the statements: whether the balance sheet balances and the P&L, balance sheet and cash flow are linked.
- Assumptions: growth rates, prices, margins, working capital — how well they are supported and whether they fit the company’s history and the market.
- Sensitivity: which two or three assumptions drive the result and what happens if they fail.
- Valuation: discount rate, terminal value, NPV and IRR calculations.
What you receive
- A written opinion: whether the model can be relied on, and with what reservations.
- A list of errors and fixes, by sheet and cell.
- A list of assumptions worth challenging or re-checking.
- A review call to go through your questions.
Fee and timeline
The fee is fixed and depends on the size of the model: we quote it within one business day of seeing the file, together with the timeline. If it turns out that the model needs rebuilding rather than reviewing, we will say so at once, before any payment.
The file and the data are used only for the review. On request, we sign a non-disclosure agreement before receiving the model.
Example
An owner is invited into a project showing a 35% annual return in the sponsor’s model. The review shows that the return rests on a single assumption about the selling price, and that at a price 10% lower the project breaks even. That changes both the decision and the terms of entry.
A typical situation, shown for illustration.Questions and answers
Which models do you review?
Models in Excel and Google Sheets: project, corporate and transaction models. A business plan in document form is reviewed together with the spreadsheet it is based on.
Can the model be reviewed without disclosing the company name?
Yes. Names and sensitive data can be anonymised; this does not affect the review of logic and formulas.
Related services
Let’s discuss your project
Send us the model and we will quote the fee and timeline within one business day. The first meeting is free.