Rocky point brewery (rpb) plans to file an initial public offering (ipo) in june 20x3. Olsen & alain, cpas (o&a) has performed calendar year end audits of rpb since 20x0 and also helps rpb prepare monthly financial statements in accordance with aicpa independence rules. O&a terminated the accounting services in december 20x2. Under sec independence rules, could rpb continue to engage o&a as its auditor when it files its ipo?.

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22-12-2021
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Rocky point brewery (rpb) plans to file an initial public offering (ipo) in june 20x3. Olsen & alain, cpas (o&a) has performed calendar year end audits of rpb since 20x0 and also helps rpb prepare monthly financial statements in accordance with aicpa independence rules. O&a terminated the accounting services in december 20x2. Under sec independence rules, could rpb continue to engage o&a as its auditor when it files its ipo?.

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topeadeniran2 topeadeniran2 · Answer 1 · 2021-12-27T15:35:13+01:00

Based on the information given about the public offering, the correct option is C. No, because the prohibited non-audit services were performed during the period covered by the financial statements.

From the complete information, it was stated that Rocky point brewery plans to file an initial public offering in June 20x3 while Olsen & Alain, cpas has performed calendar year-end audits of rpb since 20x0.

Under the security exchange commission and PCAOB, it should be noted that Rocky point brewery cannot engage O & A to be their auditors now that's it's a public company.

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https://brainly.com/question/14634248