ABSTRACT
The pace of the deal and the diverse range of expertise which must be deployed means that advisers are usually a feature. Advisers should be pretty efficient at getting through the task in the ridiculously short time available. Managing advisers means controlling the process right from the start. Professional advisers are very good at pretending that they know everything about everything. The most reliable way to select the right advisers is to find key advisers and, over time, build personal relationships with them. Technical ability and experience are important in choosing which advisers should carry out what work, but so are personal chemistry and seeing what lies behind the typical adviser's sales veneer. Many advisers are now making a big play of being able to offer an integrated due diligence service providing financial, legal and commercial expertise plus many of the other disciplines. Establishing written terms of reference is one of the most important aspects of working with advisers.
