MENLO PARK, Calif., April 25, 2011 /PRNewswire/ -- The IPO market continues to pick up momentum, even as the process of going public has become increasingly complex. To help companies prepare for a successful initial public offering (IPO) and for ongoing life as a public company, Protiviti (www.protiviti.com), a global business consulting and internal audit firm, has published a resource guide for businesses looking to go public and launch a strong IPO. Protiviti's Guide to Public Company Readiness: Frequently Asked Questions (www.protiviti.com/publiccompanyreadiness) covers a broad range of important considerations from critical financial reporting requirements to compliance issues and risk management. The guide also describes how companies can approach the public-company readiness (PCR) process in the most efficient and cost-effective manner while also staying focused on critical growth initiatives.
With detailed answers to nearly 90 questions, Guide to Public Company Readiness addresses many key aspects of the PCR process, including how long it typically takes, major milestones within the process, how the nature of public company requirements has changed in recent years, and the cost of taking a company public and being public. Protiviti's guide also offers insight on governance and regulatory/procedural issues; handy PCR assessment aids for quick reference; and advice on safeguarding against the various risks associated with incomplete or ineffective preparation for an IPO.
"With the growing demand for transparency in public offering initiatives, the pace and complexity of regulatory change have intensified steadily in recent years. Add to that, the windows of time for companies to access the capital markets are more volatile than in the past, frequently requiring those organizations pursuing a public offering to achieve readiness in a much shorter period," said Steve Hobbs, a Protiviti managing director and leader of the firm's Public Company Readiness practice. "We've observed that many organizations don't have a full understanding of how the public company readiness process needs to permeate nearly every part of the pre-IPO organization, from finance and IT to human resources and operations. Protiviti's new guide can help organizations navigate the many potential pitfalls of the public company readiness process by focusing on the key infrastructure considerations that are so crucial to a successful IPO effort."
In Guide to Public Company Readiness, Protiviti provides an in-depth review of many facets of the pre-IPO process including:
- PCR Effort Overview – Offers insight into various aspects of the process, from the most costly and time-consuming remediation activities pre-public companies typically undertake to ongoing operational and management challenges.
- Accurate Financial Reporting – Covers the financial issues that accompany the PCR process, from public company financial reporting requirements to the role of disclosure committees in establishing an accurate financial reporting process.
- Efficient Financial Close – Provides an insightful review of the paperwork that must be completed to ensure that pre-public companies meet and public companies maintain the requirements for sufficient financial records on a quarterly and annual basis.
- Sarbanes-Oxley Act Compliance – Guides companies through the process of meeting Sarbanes-Oxley Act compliance, and presents key questions to help organizations determine their state of compliance readiness.
- A Scalable IT Environment – Outlines the IT policy and process-related evaluations and activities pre-public companies should conduct.
"Few IPOs have been executed successfully without a solid understanding of infrastructure issues. Protiviti's guide provides a starting point for building an infrastructure foundation that will support a healthy IPO effort," said Chris Wright, Northeast regional managing director with Protiviti and leader of Protiviti's Finance Remediation and Reporting Compliance practice, which supports important aspects of PCR efforts.
To obtain a complimentary copy of Guide to Public Company Readiness: Frequently Asked Questions, please visit www.protiviti.com/publiccompanyreadiness.
Protiviti is a global business consulting and internal audit firm composed of experts specializing in risk, advisory and transaction services. The firm helps solve problems in finance and transactions, operations, technology, litigation, governance, risk, and compliance. Protiviti's highly trained, results-oriented professionals provide a unique perspective on a wide range of critical business issues for clients in the Americas, Asia-Pacific, Europe and the Middle East.
Protiviti has 60 locations worldwide and is a wholly owned subsidiary of Robert Half International Inc. (NYSE: RHI). Founded in 1948, Robert Half International is a member of the S&P 500 index.
Protiviti is not licensed or registered as a public accounting firm and does not issue opinions on financial statements or offer attestation services.