The Guidelines for Officers When the Veracity of the Documentation is in Doubt
Situations could arise where the officers doubt the veracity of the documentation provided. In this scenario, the officers would need to request for further documentation first. This is especially so in the absence of any suspicious circumstances. In many cases, it would be perfectly appropriate for the officers to accept financial statements that reputed external accountants have reported on. It is worth mentioning that the likelihood that a majority of small businesses would have undergone financial audits remains very slim.
As a last resort, officers would need to request for additional third-party verification. They would need to do this only if:
- It has the relevant credibility in the applicant’s home jurisdiction and,
- Its submission could cause the officers to approve any application that they would have otherwise refused
- It is worth mentioning that obtaining third-party verification remains at the applicant’s discretion if they choose to pursue this option as opposed to getting refused for failing to prove that they meet the definition of an entrepreneur
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