Deciding to go public - Canada's CAs providing practical guidance for CFOs



    TORONTO, Aug. 19 /CNW/ - The Chartered Accountants of Canada are
providing a valuable information source to help Chief Financial Officers
carefully consider the pros and cons of taking a company public.
    The Canadian Institute of Chartered Accountants (CICA) has developed a
special publication titled, Deciding to Go Public: What CFOs Need to Know. The
publication provides an overview of the CFO role in the decision to take a
company public. It sets out the areas in which the CFO provides critical input
to other members of the management team and to the board of directors, as well
as the CFO's essential role in interacting with the investment community.
    "Be prepared, not surprised," stressed Peter W. Roberts, FCA, Vice-Chair
of the CICA's Risk Management and Governance Board. "The decision to go public
is a critical one in the life of a company and must be carefully considered.
The more consideration that goes into the decision, the better prepared the
company will be to deal with the rigors of the going public process and the
responsibilities associated with life as a public company."
    The publication notes that three questions must be addressed in the
decision-making process:

    
    1)  What factors must be considered in making the decision to go public?
    2)  What must the company have in place prior to going public?
    3)  What will life be like as a public company?
    

    Planning and preparing well in advance can help a company be ready to
take advantage of market 'windows' as they open.
    "The process for taking a company public moves quickly once started and
demands an enormous amount of time and energy," said Roberts. "Making an
informed decision before initiating the process and being properly prepared
greatly helps to maximize the chances of success."
    While the publication is directed at CFOs, it will also be of value to
directors and members of the senior management team in order to stimulate
discussion, help facilitate the process of going public and set the stage for
life as a successful public company.
    An electronic version of the document can be found at www.cica.ca/rmgb.

    The Canadian Institute of Chartered Accountants (CICA), together with the
provincial, territorial and Bermuda Institutes/Ordre of Chartered Accountants,
represents a membership of approximately 74,000 CAs and 10,000 students in
Canada and Bermuda. The CICA conducts research into current business issues
and supports the setting of accounting, auditing and assurance standards for
business, not-for-profit organizations and government. It issues guidance on
control and governance, publishes professional literature, develops continuing
education programs and represents the CA profession nationally and
internationally. CICA is a founding member of the International Federation of
Accountants (IFAC) and the Global Accounting Alliance (GAA).





For further information:

For further information: or to arrange an interview, contact: Tobin
Lambie, Media Manager, CICA, (416) 204-3228, tobin.lambie@cica.ca

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Canadian Institute of Chartered Accountants

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