Quality of Earnings (QofE) Report Services
M&A Financial Due Diligence
Our CPA experts provide independent financial analysis for M&A, acquisitions, and investments including QoE, normalized EBITDA, working-capital, and deal-ready reporting.
Independent Analysis to Understand True Earning Power
When reported profit doesn’t tell the full story, a Quality of Earnings (QoE) report reveals what really drives value. At Duffy Kruspodin, we deliver comprehensive financial analysis that helps business owners, investors, and deal teams assess a company’s sustainable performance — beyond one-time events or accounting quirks.
Whether you’re buying, selling, or evaluating strategic investments, a QoE report gives you a grounded foundation to set valuation, structure the deal, and plan ahead.
Our QofE Report Services Include
Our QoE work dives deeper than standard financial statements. We evaluate underlying business performance to distinguish recurring, sustainable results from temporary or non-operational noise.
Our services typically include:
- Historical income statement review and adjusted earnings analysis (Normalized EBITDA)
- Working capital and balance sheet current-asset/ liability review to assess ongoing cash needs
- Identification and removal of non-recurring, non-operational, or owner-related items from earnings
- Business Tax Credits & Incentives
- Revenue quality and sustainability checks — including payment patterns, customer concentration, and recurring revenue assessment
- Expense structure and cost baseline analysis to understand fixed vs variable costs
- Cash flow vs earnings reconciliation to confirm that profit also translates to liquidity
- Evaluation of financial controls, accounting policies, and balance-sheet integrity — to highlight areas of risk or future exposure
- This depth of review helps uncover hidden liabilities, irregularities, or overstatements. It allows buyers — and, if you’re selling, helps you present a credible, defensible earnings profile.
Ready to Validate the Numbers?
Get a clear, independent view of a company's true earning power.
Typical Use Cases
Why Clients Turn to Us for QofE
QofE reports add value across a range of transaction scenarios:
- Buyers (or investors) evaluating a potential acquisition, to validate seller-provided financials and stress-test assumptions
- Business owners preparing for sale — to surface issues and negotiate from a position of strength
- Lenders or private equity firms assessing financing or investment risk
- Companies examining the financial health of acquisition targets, or considering carve-outs, joint ventures, or strategic investments
- Founders and owners seeking an independent assessment before committing to a major business decision
What You Can Expect
We Provide Clients With
Our role is to dig deeper than the financial statements and deliver a grounded view of earnings, risks, and underlying performance – the kind of insight that strengthens decisions and supports valuation.
- A focused scope tied to your timeline and transaction needs
- Clear, adjusted earnings that reflect the true economics of the business
- Practical insight to help you understand what the numbers mean
- Independent analysis designed to reduce surprises and inform negotiations
- A team who brings real financial experience, not just reporting
Why Clients Work with Duffy Kruspodin
- Sector-Smart Analysis – We apply industry-specific experience — from real estate to manufacturing, hospitality to professional services and more — to interpret financials in context.
- Senior-Driven Review – Your engagement is led by seasoned CPA-level professionals who pair technical discipline with real-world business sensibilities.
- Focused, Deal-Oriented Scope – We tailor our work to what matters most for your transaction — no unnecessary extras.
- Trusted Process Management – We coordinate with legal, financing, tax, and advisory teams to keep diligence organized, compliant, and timely.
Related Services
Guided by Experienced Leadership
DAISY HOM, CPA
Partner
Daisy leads assurance services at Duffy Kruspodin with deep experience across public accounting and private industry. She specializes in audits, internal controls, and financial consulting for privately held companies and nonprofit organizations — including biotech, research, construction, and social impact sectors. Daisy also chairs the firm’s Audit Committee.
MIRIAM KAPLAN, MBA, CPA
Partner, CAS Practice Leader
Behind every successful accounting relationship is a leader who knows what it takes to support growing businesses. Miriam Kaplan, MBA, CPA leads our outsourced accounting and advisory services, helping clients bring structure, visibility, and confidence to their financial operations.
Let’s Talk About What Matters
If you’re evaluating a business or preparing to sell, now’s the time to ensure the numbers hold up — and that earnings reflect more than just accounting entries. Contact us to discuss how a QoE report can support your next transaction.
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