In most IPOs, a due diligence process for various areas such as legal or accounting is conducted to make sure the prospectus complies with the legal requirements and no material information is left out of the
prospectus.
The various professionals, such as issue manager, accountants and industry experts sign off their respective reports or opinions as required to be part of the prospectus.
In addition, it is now usual practice for the SGX to require that the issue managers appoint an independent private investigator to provide an investigation report on the company and its controlling shareholders and management.