Q. Explain Due Date and Due Diligence?
Due Date -Every governing agency and its forms scheduled reporting and most significantly payments have a required due date. It's this date that if most files timely may result in a fine, penalty and commence interest charges.
Due Diligence - (1) Procedures performed by underwriters in connection with issuance of a SECURITIES EXCHANGE COMMISSION (SEC) registration statement. These procedures include questions concerning company and its business, competitive position, products, recent financial and other prospects anddevelopments. Also performed by others in connection with acquisitions and other transactions. (2) Requirement found in ethical codes that person governed by ethical rules exercise professional care in conducting his or her activities.