When the manufacturer came to BDO seeking help, they were looking at a pathway to growth that would allow them to go public in Canada through an IPO—supporting growth and expansion plans. But the company founders, executive team, and finance team had no experience with operating a public company.
The finance team was relatively small, and their experience revolved around preparing ASPE financial statements on an annual basis to meet banking requirements. The team lacked knowledge of IFRS, and the demanding reporting requirements of a public company.
The client knew there were gaps to achieving their goals and wanted support to prepare for the process of going public.