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Social media mogul engages Protiviti for IPO preparedness


  Client Challenge  
As a very young company still in start-up mode, our client understood that the transition from private company to public company requires extensive effort, time and planning to ensure a smooth transition around a very complex process. Protiviti was tapped to facilitate this well-known social media organization’s move toward public company readiness.
​In helping our client prepare for its IPO, Protiviti delivered measurable value across three key areas:
  1. First, our team performed a pre-audit and public company readiness (PCR) assessment that led to the selection of an external auditor, produced an action plan detailing plans for external audit, conducted a PCR assessment and developed a remediation plan.
  2. Second, Protiviti’s professionals performed a revenue recognition assessment, which included remediating an issue related to advertising products. We provided documentation supporting Staff Accounting Bulletin (SAB) 104 requirements, documented methods to account for historical revenue and assessed controls for the Oracle ERP implementation.
  3. Lastly, Protiviti performed a financial policy gap assessment, which included design and testing of both application and manual controls, design of data conversion validation controls, documentation of the system development lifecycle risk and control matrix, and documentation of IT general controls risk and control matrices.
​Protiviti helped develop a roadmap for the organization’s IPO and prepared the company for its first external audit. Protiviti also helped the organization successfully implement its Oracle ERP system.
Overall project results included:
  1. Implementing Fastpath Assure™ to manage and monitor segregation of duties (SoD) risks
  2. Developing a customized SoD conflict matrix to identify, understand and manage SoD risks
  3. Meeting compliance requirements for IPO readiness
  4. Implementing a security design that is scalable and manageable
How We Help Companies Succeed
We help newly public companies establish scalable, sustainable processes to support their growth objectives. At Protiviti, our approach assesses a company’s ability to operate effectively and efficiently as a public company, including its overall ability to produce accurate financial filings on a timely basis, the scalability and efficiency of its IT operations, and its compliance with the various aspects of Sarbanes-Oxley and other applicable listing requirements. We also assess the potential impact on resource requirements and help with Sarbanes-Oxley compliance and other regulatory requirements while adding real value by improving finance processes and IT operations.
​Steve Hobbs
Byron Traynor
Charles Soranno
Gary Callaghan
Gordon Tucker
Brad Rachmiel
  About Protiviti  
Protiviti ( is a global consulting firm that helps companies solve problems in finance, technology, operations, governance, risk and internal audit, and has served more than 60 percent of Fortune 1000® and 35 percent of Fortune Global 500® companies. Protiviti and our independently owned Member Firms serve clients through a network of more than 70 locations in over 20 countries. We also work with smaller, growing companies, including those looking to go public, as well as with government agencies.
Named one of the 2015 Fortune 100 Best Companies to Work For®, Protiviti is a wholly owned subsidiary of Robert Half (NYSE: RHI). Founded in 1948, Robert Half is a member of the S&P 500 index.