The demand for transparency in public offering initiatives – from regulators as well as shareholders – has been growing for some time, to the point where financial transparency frequently matters as much as the bottom line. The pace and complexity of regulatory change continue to intensify, as evidenced by the emergence of new standards and rules, as well as risk-based auditing and board oversight guidance, among many other changes. Additionally, the window for the public markets opens and closes much more quickly than it did in the past. This means that companies pursuing a public offering must achieve readiness in a much shorter time frame.
For these reasons, the need for guidance with regard to PCR and IPOs has never been greater. While public offerings require a wide range of organizational, legal, underwriting and external market expertise, it is the intention of this Guide to Public Company Readiness to focus on what organizations must have in place from an infrastructure and back-office perspective to prepare successfully for an IPO.