The role of an auditor in an IPO

The role of an auditor in an IPO

PwC Assurance Partner Patrice Schumesch explains the key role a PwC auditor plays in building trust and supporting companies on their initial public offering (IPO) journey. 

Watch his interview (in French) on news channel LN24 below.

With more than 30 years of experience under his belt, Patrice Schumesch took on the task of explaining the meticulous work of an auditor in an initial public offering (IPO). LN24 news channel broadcasted the interview on 31 January 2022. 

An auditor, first and foremost, is a provider of trust. By issuing an independent opinion on a company’s financial statements, the auditor enables all stakeholders to trust the information included in the financial statements. In this way they can make informed decisions on investments, commercial and other considerations in relation to the company.   

After Patrice established the core values of an auditor, the focus shifted to the role of an auditor in relation to an IPO - to provide assurance on the financial information included in the prospectus that companies must publish to best inform potential investors. 

Afterwards he explained in detail what an IPO prospectus covers and how much work goes into preparing the sometimes several hundred pages long document, including compliance with International Financial Reporting Standards (IFRS). 

Patrice light heartedly compared the diverse duties of a company that gets listed to those of a Premier League club: great discipline is needed, there are constraints to overcome and investors’ expectations to meet. Getting prepared at an early stage, by carrying out an IPO readiness project, is very useful.  

Discover the full interview here: 

Contact us

Patrice Schumesch

Patrice Schumesch

Partner, PwC Belgium

Tel: +32 477 61 91 13

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