June 22, 2016
IPO Readiness Technology Roundtable
Posted by Armanino Financial Advisory Team
Armanino Governance, Risk and Compliance (GRC) Partner Eric Weis Featured in NASDAQ Marketinsite for IPO Readiness Technology Roundtable
Is your company on the IPO path? Experts from Armanino and NASDAQ recently joined finance professionals from leading Bay Area technology firms for a wide-ranging discussion about IPO readiness in today’s market. Armanino’s Eric Weis summarized the key tips and highlights in an article (Tech Roundtable: IPO Readiness in Today’s Market) on NASDAQ Marketinsite. We’ve summarized a few of Eric’s key points below.
Make Good Processes the New Normal
From an operational standpoint, the pillars of IPO readiness are strong financial reporting systems, risk management, corporate governance, compliance and internal controls. As finance leaders work to put this foundation in place, their greatest challenge often is getting the rest of the organization on board. “The biggest difficulty is not necessarily in the design of these changes, but in maturing these processes and systems so they are consistently performed and hold up to external scrutiny,” says Weis.
Reining In Internal Stakeholders
One finance chief said that the IPO is like a wedding, with a lot of pomp and show, but being public is like marriage―a lot of continuous, hard work. Ensuring that the whole organization is ready and has the discipline it takes to operate as a public company is a top concern for finance leaders. Sometimes the biggest offenders can be founders or longtime senior management, who may need to be trained to be cautious about verbalizing projections.
The IPO is Just The Beginning
IPO readiness is really about preparing for what comes next. That first quarter―when your timing is different, your auditors are more stringent, and you have to file a 10-Q or maybe a 10-K―is when the real race starts.
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