An initial public offering (“IPO”) refers to the process of offering shares of a private corporation to the public in a new stock issuance for the first time. Before undergoing an IPO, a company must go through an extensive IPO process as preparations required by the Capital Markets Board. One of the significant IPO procedures is the requirement to is be audited by independent audit firms which is to be selected from CMB’s authorized list and further sign an audit contract with selected audit firm.
The entire process and procedures of our audit services is significant service performed to ensure transparency and trust in capital markets. The audit as a process evaluates the accuracy and reliability of financial statements and other financial information. Our audit services are carried out by auditors or audit firms authorised by the POA in accordance with international auditing standards.
Our IPO services ensures the accurate and fair presentation of the financial statements. Independent auditor’s responsibility is the company’s financial performance and position including transactions and assessing the accuracy of financial statements and relevant disclosures. In addition, our auditors evaluate the company’s internal control and risk management systems.
The purpose of the audit of IPO is to have providing high quality, reliable financial information to investors. The audit carried out before the IPO ensures that investors have reliable financial information about the financial position and performance of the company. Accordingly, investors have satisfying and right decisions and realise their investments in a safe manner.
Consequently, the audit of IPO including relevant process and procedures has an important role in promoting transparent, accurate financial information and in maintaining investor confidence in that information by providing reasonable assurance to investors that the financial statements are free from material misstatement in the capital markets. These audits increase the confidence of the investors and builds confidence and trust and contributing to the efficient and healthy functioning of the capital markets.