Due diligence is a specialized form of audit. Organizational competencies are an early concern, and Baynard attempts to define immediate imperatives that her clients need to consider to ensure a successful outcome of the process. Baynard looks at past performance to understand what drove historical performance. She also look at the current financial position and comment on the quality of the reported assets and liabilities, the future of the entity via shareholder profile, leadership style, management competence, capital structure, resource capability, market profile, product offering, information system and geographical spread. Her approach to an enterprise review is complete, and entails the use of industry and technical expertise when highly specialized businesses are investigated. She operates upon the premise that warranties and pricing are not substitutes for a due diligence.