An IPO is one of the biggest milestones in the life cycle of a technology company and is a symbol of the value of founders as well as employees, customers and. However, it also comes with an entire set of rules, regulations, and requirements that the company might not have been held to as a private enterprise. To be successful, you must be prepared. This begins with a thorough IPO checklist.

The first step is a fully functional system that enables the company to keep an impeccable financial record that can withstand the scrutiny of regulators and shareholders. This is a top priority for the CFO’s team and should be addressed before the IPO timeframe. This typically means setting up an automated reconciliation process to eliminate manual errors in the data, and ensuring that the company is in line in achieving IFRS and US GAAP compliance, and establishing the necessary committees for the board, such as the audit special finance, compensation, and audit.

Another essential aspect is having a solid management team that will be in a position to implement the growth plans of the company as it transitions to becoming public. This is typically the most important non-financial element to take into account when preparing an IPO. Investors are looking for a competent team of leaders with proven experience.

An experienced advisor or auditor is required to conduct an IPO readiness evaluation to determine the current state of internal controls practices, accounting and other issues that must be addressed prior to the IPO. It is recommended to do this early in the IPO process so that deficiencies can be rectified before they are revealed to investors and the SEC.

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