Financial Position and Prospects Procedures (“FPPP”)
As a part of the listing process, directors of a company preparing to seek a listing must establish procedures that provide a reasonable basis for them to make proper judgements on an on-going basis as to the financial position and prospects of its group.
Directors must establish procedures that enable them to be informed on a regular basis as to:
- the financial position of its group, including assets and liabilities, profits and losses;
- projected profitability, cash flows and funding requirements;
- the financial procedures in place for all group companies; and
- the controls in place for all group companies.
ONE Advisory assists companies with fulfilling its FPPP commitments by:
- advising on the adoption of appropriate procedures which will be required for listing, including gap analysis with existing procedures;
- recommending accounting standards and packages to be adopted;
- drafting to completion the FPPP document for listing;
- liaising with the Reporting Accountant and the Nomad for approval of the FPPP document pre-listing; and
- putting in place systems and controls recommended in the FPPP document to ensure the prospective listed group has the appropriate procedures in place pre-listing.