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.