Accountants Join IPO Process as Most Trusted Advisor
When it comes to an Initial Public Offering (IPO), the media may lead you to believe that the most important links to companies are venture capitalists and investment bankers. After all, they are the ones that gain the lion’s share of the headlines when it comes to these types of transactions.
But according to entrepreneurs surveyed at the fourth annual IPO Transformation CEO retreat accountants, not VCs or investment bankers, 26 percent believe their accountant is the “most important business advisor for a company as they decide whether or not to go public.” Behind accountants bankers earned 24 percent of the vote, venture capitalists 22 percent, and attorneys stood at 13 percent.
The survey was conducted by Ernst and Young LLP and surveyed more than 250 senior executives from 42 emerging companies in North America.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.