So my understanding is that bankers have to manage the entire deal process, in particular, they must manage and bring together a whole host of people i.e. lawyers, accountants, corp dev, PE ... etc. If lawyers are required to ensure the legality of the documents, what is the role of accountants ??
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Usually accountants are involved during the diligence process. Very deal specific, but accountants assist diligence requests relating to the company's financials, providing various schedules (AR/AP agings, inventory agings, etc.), and other related documents. They can also join diligence calls with the buyer to explain how the company's accounting functions work. They're also a big help in a quality of earnings process.
Note that there's not a ton of accountants involved in the process, as the company's deal team doesn't expand to include the whole accounting department. Usually consists of CFO, controller, VPs of finance/accounting, and other titles that are higher in seniority (depending how much diligence is involved)
This is accurate
Watch "The Accountant" and you'll know their role very well.
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