Advisory

Advisory

Advisory contracts require a consulting or professional services firm to give advice but not to perform any material work for the company. For example, a company may have a financing problem, and will source the advice of a professional services firm (such as the Big 4) to provide a detailed list of possible solutions, forecasts and outcomes. A one-off fee will be charged for this advice, and the receiving company may choose to follow or discard the advice at its own risk.

Consultancy extends the role of advisory to actually performing the work on behalf of the client.