IPO Readiness Assessment
Find out how far your books, controls, and reporting are from what a PCAOB audit and an S-1 or F-1 will require — and what it will take to close the gap.
Online service across all 50 states
What this service is
The assessment is the first step of an IPO readiness engagement and can be bought on its own. We review your trial balance, chart of accounts, latest financial statements, accounting policies, close process, equity records, controls, systems, and tax position against what a PCAOB-standard audit and an SEC registration statement require. You receive a written report with a prioritized gap list, an estimate of the work needed to close each gap, and a dated plan tied to your target filing window.
Forms & documents involved
What we actually do
Review the accounting foundation
Trial balance, chart of accounts, account reconciliations, and the latest draft financial statements.
Test accounting policies against GAAP or IFRS
Revenue, leases, equity, debt, consolidation, and estimates compared with what the audit will expect.
Assess the close and controls
Close timing, review steps, segregation of duties, and system access compared with public-company deadlines.
Review equity and tax records
Cap table, option grants, 409A history, entity structure, NOLs, and state filings.
Estimate the PCAOB uplift
How much documentation, reconciliation, and restatement work the audit will need.
Deliver a dated roadmap
A prioritized plan with owners, timing, and the estimated effort for each workstream.
What the assessment covers
Financial reporting
Basis of accounting, completeness of financial statements, footnote readiness, and periods available.
Accounting policies & estimates
Revenue (ASC 606), leases (ASC 842), stock compensation (ASC 718), debt and equity instruments, consolidation, and private company alternatives that must be reversed.
Close & reporting process
Days to close, reconciliation discipline, review evidence, and capacity to meet 10-Q and 10-K deadlines.
Internal controls & systems
Key controls, segregation of duties, IT general controls, and the accounting system's ability to scale.
Equity & capitalization
Cap table accuracy, grant documentation, 409A history, and instruments that convert at the IPO.
Tax
Entity structure, income tax provision readiness, NOL position, and multi-state or foreign filing exposure.
Finance organization & governance
Roles needed, board and audit committee reporting, and which work stays outsourced.
How we rate each gap
If OICPA prepares your financial statements, OICPA cannot also audit them. Independence should be confirmed with your audit firm before work begins.
How pricing works
Pre-IPO work is scoped company by company. Send your listing window, current reporting basis, and the work you need through the request form. We review those details and provide a written scope and quote before work begins.
What we scope and quote
- IPO Readiness AssessmentOne-time diagnostic, gap analysis against S-1 and audit-readiness standards.
What You Get
Readiness report
Findings across financial reporting, policies, close, controls, equity, tax, and the finance organization, with an executive summary for the board.
Rated gap list
Every gap rated Blocking, Material effort, or Process improvement, so the order of work is clear.
Dated roadmap and work estimate
Estimated effort by workstream, tied to your target filing window.
Explore this service- Readiness report with an executive summary for the board
- Gap list rated Blocking / Material effort / Process improvement
- Estimated effort by workstream
- Dated roadmap to the target filing window
- List of questions to raise with your auditor and counsel
When this service may fit
- A listing is 12 to 36 months away and you need to know what it will take
- You are choosing between U.S. GAAP and IFRS, or between an S-1 and an F-1
- Your board or investors have asked for an independent view of finance readiness
- You are about to engage a PCAOB-registered auditor and want to know what they will find
How It Works
Document request and kickoff
We send a focused request list and meet with your finance lead.
Review and interviews
Two to four weeks of document review and short interviews with the people who run the close, equity, and tax.
Findings discussion
We walk you through the draft findings before anything is final.
Report and roadmap
Final report, gap list, and dated plan, presented to management or the board.
Your Role
Provide complete records on schedule, make finance staff available for interviews, and decide which recommendations to adopt.
Service Scope
The independent audit opinion is issued by your PCAOB-registered auditor, not by OICPA. Readiness support is not an audit, securities legal advice, underwriting, or assurance that a listing will occur. If OICPA prepares your financial statements, OICPA cannot also audit them. Independence should be confirmed with your audit firm before work begins.
Start IPO Readiness Assessment online
Choose the closest scope and send your request online. We’ll confirm the final work and fee in writing before anything begins.
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