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IPO CHECKLIST / SECTION B

What has the company prepared, and what remains to be evidenced?

A preliminary review across ten areas of company readiness, connecting known facts, work to be done, and evidence for professional review.

Strategy and business value

Can the company explain its business model, revenue sources and growth drivers with actual data?Is there a use-of-proceeds and forecast plan linked to strategy and cash flow?

Suggested starting evidence: Business plan, customer revenue data, profit and cash drivers, investment and capital-use plans

Listing path and relevant criteria

Have the company form, possible market and eligibility issues for FA review been identified?Is there a work plan with people, budget and timing for preparation and review?

Suggested starting evidence: Company structure, financial statements, operating history, work plan and owners

Group, ownership and related parties

Can group structure, shareholders, controllers and related parties be traced?Have shared assets, competing or dependent businesses, and related-party dealings been identified?

Suggested starting evidence: Ownership chart, related-party list, contracts, transactions and shared resources

Accounting and financial reporting

Can historical financial statements and schedules reconcile profit, cash, assets and liabilities?Can finance close on time and systematically resolve auditor observations?

Suggested starting evidence: Historical statements and notes, auditor reports, close calendar, adjustments and open issues

Tax

Do material tax filings and accounting records reconcile, with periods for review identified?Have disputes, exposures and restructuring tax issues been identified and reviewed?

Suggested starting evidence: Returns and payment records, reconciliations, tax review reports, disputes and material transactions

Risk and internal control

Do key revenue, purchasing, inventory, cash and approval processes have owners and control evidence?Are controls tested in practice and deficiencies tracked to resolution?

Suggested starting evidence: Process maps, approval authority, sample transactions, internal audit findings and action plans

Legal, contracts and asset rights

Have licenses, material customer and supplier contracts, and disputes been collected and dated?Are rights to use material assets, brands, technology and intellectual property documented?

Suggested starting evidence: Company filings, licenses, contracts, IP rights and litigation/dispute records

Governance and disclosure

Are board structure, decision rights and conflicts of interest explainable?Can information systems and owners support reporting to shareholders and material disclosures?

Suggested starting evidence: Board structure, minutes, related-party policies and disclosure processes

People and management

Are there finance leaders and workstream owners able to drive cross-functional preparation?Do critical positions have defined responsibilities, successors and development plans?

Suggested starting evidence: Organization chart, role descriptions, management profiles, succession and staffing plans

Data and technology

Can revenue, inventory, receivable and accounting data be reconciled and traced?Are access, changes, backup and recovery controlled and tested?

Suggested starting evidence: System map, reconciliations, user rights, change logs and backup/restore test results

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