BUSINESS ADVISORY

Business Advisory does, of course, include an element of consulting, as problems do arise and our technical and financial expertise is often needed to resolve these issues in a reactive way from time-to-time.

However, Business Advisory is a higher-level concept, certainly from the clients’ perspective and that is what really matters.

At this stage there is very little formal articulation as to what is Business Advisory, although one of the few available documents is an American Statement on Standards for Consulting Services and this includes the following references:

• Consulting Process and Services – employing the practitioners’ technical skills, education, observations and experience in a process to apply to a problem or issue
• Consultations – providing counsel based on existing personal knowledge of the client
• Advisory Services – recommendations to clients impacting on their decision making process
• Implementation Services – helping put an action plan in place
• Transaction Services – providing services to aid a specific client transaction
• Staff and Other Support Services – providing outsourced staff or services to clients or the delivery or assistance with products