Corporate governance can make or break an IPO, according to advisory firm KPMG. Governance topped the ranking of biggest headaches faced by companies preparing to go public, recent KPMG surveys found. And Aamir Husain, national leader for IPO Services at KPMG, says that corporate governance can be such an issue that it can kill an IPO.

The work involved in improving corporate governance can be overwhelming and complex. There is compliance with SarbOx, quarterly reports with the SEC, the annual 10k, robust auditing and internal controls -- numerous systems and processes that need to be in place.

If you've ever dreamed of going public, be sure to read this Bloomberg article from Wednesday on QuinStreet's IPO last week.

No, it won't teach you any lessons about how the internet marketer squeezed through a closing IPO window.

What it will teach you is that once you're public, you're not just under the microscope when you report earnings. You're always under the microscope.