Choose the stage you are building for
Rate the capability actually operating today. Each area has two statements. Use the highest level supported by retained evidence; if unsure, leave the statement unanswered. Do not enter confidential records: use internal evidence references only.
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Evidence-led assessment
Rating anchors: use the same scale throughout
- 0 · Absent: no reliable capability or evidence.
- 1 · Ad hoc: performed informally or dependent on a person; evidence is incomplete.
- 2 · Defined: an owner, documented method and evidence exist; consistent operation is not yet demonstrated.
- 3 · Operating: recent execution and review are evidenced, with exceptions tracked.
- 4 · Proven: repeated operation, independent challenge, remediation follow-through and workable cover are evidenced.
Scoring method and sources
Model provenance: ipo.zone editorial model v0.01, 2026-10-28. All scale numbers and targets are design parameters, not observed company data. Nothing is pre-scored; there are no financial examples or assumed company figures. Your inputs are unverified self-reports.
- Each area is the simple mean of its two ratings on the 0–4 scale. With one answer, it is explicitly provisional. With no answers, it is “Not assessed”.
- The overall mean appears only after all 18 statements are answered. All areas have equal weight. It is not a probability of listing or a regulatory assessment.
- Gap to target is assessed statement by statement: max(target − rating, 0). A higher score on another statement does not cancel that gap. The area table shows the largest statement gap, not a netted average.
- Unanswered statements remain unknown, not zero. The gap plan places areas with unknowns first, then orders assessed gaps by their largest statement deficit, with the original area order breaking ties. Each area includes a suggested action, not an automatically approved project plan.
- Any controls or treasury statement rated 0 or 1 raises a separate risk flag, even if the selected stage's target is met. Unanswered risk statements remain unassessed.
- Changing stage preserves current-state evidence and ratings. Reassess honestly against the common anchors; a later round is not proof of maturity. No “not applicable” exclusion is offered: discuss genuinely irrelevant capabilities with advisers rather than scoring them as proven.
| Stage | Target design |
|---|---|
| Seed | 1 in every area: establish visibility and ownership; this is not permission to leave serious risks unresolved. |
| Series A | 2 in every area: define methods, ownership and evidence. |
| Series B–C | 3 in every area except audit at 2: operate reviewed group processes; confirm actual audit obligations separately. |
| Pre-IPO | 4 except audit and tax at 3: rehearse the reporting operating model; auditor and tax advisers must assess transaction-specific scope. |
| Listed | 4 in every area: sustain evidence, challenge, remediation and cover. |
Sources and scope: this tool makes no legal, tax, accounting-standard, exchange-rule, deadline, fee or minimum staffing claim. No official data is asserted for stage targets or close-speed benchmarks. For the guide's limited official regulatory reference, see its sources and scope. Use the prospectus financial information checklist to organise questions for advisers.
A high score does not establish IPO readiness. A low score identifies discussion points, not a diagnosis. Browser storage can be cleared or unavailable; downloads contain potentially sensitive notes and should be handled accordingly.