IPO Audit

What is IPO Audit?

Companies offering their shares to the public for the first time must have the financial statements included in the prospectus undergo a special independent audit under CMB regulations. The scope of the audit and the periods covered are determined by the planned offering period.

An IPO puts everything from the company's accounting policies to its internal control structure in the public domain. We treat the audit not as the last step of the process but as part of the preparation from day one, working to the same timetable as the underwriter, legal counsel and management.

What does our IPO Audit work include?

• Special independent audit of the historical financial statements included in the prospectus
• Transition to TFRS and alignment of accounting policies with capital markets legislation
• Limited review of interim statements and prospectus updates
• Use of proceeds report and consistency checks of financial information in the prospectus
• Audit and comfort letter work for issues of bills, bonds and other debt instruments
• Pre-IPO readiness assessment

How do we work?

1. 01
   Readiness assessment6–12 months before the applicationWe identify gaps in reporting, internal control and corporate governance early.
2. 02
   Period planning4–6 months before the applicationWe clarify the periods to be audited and interim requirements based on the offering period.
3. 03
   Audit and reportingApplication and CMB reviewAudit of the statements to be included in the prospectus, reports and support with CMB correspondence.
4. 04
   After the IPOFirst reporting periods after the IPOCompliance with the KAP (Public Disclosure Platform) timetable in the first reporting periods as a listed company.

Who needs IPO Audit?

• Companies planning a first-time IPO on Borsa Istanbul
• Companies issuing debt instruments
• Companies receiving pre-IPO investment

Which standards is IPO Audit based on?

Frequently asked questions about IPO Audit

Related insights

• Priority Criteria for Concluding Initial Public Offering ApplicationsAugust 28, 2026

Last updated: October 22, 2026