After the company decides to make an initial public offering, its financial statements are required to be audited by an independent auditor, if they have not been audited before. At this stage, the financial statements of the company are prepared in accordance with International Financial Reporting Standards (IFRS). According to the regulations of the Capital Markets Board (CMB), the financial statements of the company for the previous three years must be audited independently. If the company does not have an independent audit report prepared previously, the audit report to be prepared for the purpose of public offering should be prepared to cover the previous three years. If the public offering is planned to be made in interim periods, the financial statements of the company for the relevant interim period must also be audited independently.
As the public offering process progresses, an agreement should be made with an intermediary institution that will realise the sale of the company's share certificates. Considering the size of the public offering, the sales method and the status of the current preparations, negotiations with potential intermediary institutions should be started at the most appropriate time. In these meetings, the company's targets, costs and details about the process are evaluated. After negotiations with a suitable intermediary institution, a brokerage agreement is signed and sales activities for the public offering process of the company are initiated.
Careful planning of these steps in the IPO process ensures that the process proceeds in a healthy manner and the highest efficiency is achieved. The correct selection of independent audit and brokerage services plays an important role in the successful public offering of the company.