The working sequence of every engagement.

Intake letter

Written exchange, no commercial commitment

Every engagement begins with an exchange in writing. A principal describes the question in a paragraph: what is to be decided, what is already believed about it, and what evidence would disturb that belief. A reply follows, usually within a week, in the form of a counter-memorandum. It states where we believe the real question sits, what would have to be read before a view can be formed, and whether the engagement is one the firm should accept. Nothing is commercial at this stage. Two short pieces of writing against each other are the first test of whether there is a serious problem underneath.

Reading room

Document review with written annotations

Once an engagement is accepted, a period of concentrated reading follows. Board papers, management accounts, prior analyses, committee minutes, organigrams, the material contracts. The client opens a protected folder. We return to it with annotations. Working sessions do not run during this phase. Status updates are not issued. The product of reading is further reading: the questions the record leaves open, and the small number of conversations that will resolve them.

Interviews on the record

Agreed notes on both sides of the exchange

A limited number of structured conversations with those closest to the question. Each is preceded by a written brief stating the matters to be raised, and followed by a short note summarising what was said, circulated to the interviewee for correction. Nothing is recorded that the interviewee has not seen. Nothing is later quoted that the interviewee has not approved. The record is auditable because it has been agreed by the parties who created it.

Draft and redraft

Private iteration before any external reading

The engagement turns on a document that passes through several private versions before the client sees it. First drafts are wrong in emphasis as often as they are wrong in conclusion. Each draft is read against the evidence the files hold, the interviews the notes capture, and the objections a dissenting reader would raise. Only a draft the author is prepared to defend leaves the desk.

Settlement

One reading, one session, signed addendum

The final memorandum is handed over to be read, not to be presented. A single working session follows, typically with the principal who commissioned the work and, where appropriate, one or two others. The purpose of the session is to test the argument against what the client knows of the house, and to record where we agree, where we disagree, and where further work is wanted. Points the client wishes to place on record are added as a signed addendum. The engagement closes when the document is settled, not when a timeline expires.