What a quality of earnings report shows, and what it misses

A quality of earnings report tests whether reported EBITDA is real and repeatable. It adjusts for one-time items, owner costs and accounting choices. Vouch prepares the groundwork: it reads the CIM and data room, lists every add-back and links each number to its source page.

A QoE is backward-looking. It does not price the deal, judge management or test your thesis. Deal teams that screen add-backs before the QoE ask better questions and avoid surprises.

Investment advisers keep books and records under Advisers Act Rule 204-2. Vouch keeps a signed, retained record of each output, its sources and its approvals for five years.

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