- Written by webster
In contracts, it’s the effort to verify information and to research the validity of documentation and material facts. It’s a required standard of care that a professional is expected to maintain. Essentially, buyers review, audit, sample, and verify that the assets and liabilities as shown are accurate. Obviously, they are interested in finding items that aren’t listed or recorded accurately. If they find something bad that they didn’t expect, it’s a Green Weenie!