Company: KMRK
Filing Date: 2025-09-24
Form Type: 424B3
Source: 0001213900-25-091102
Chunk: 34

Company: K-TECH SOLUTIONS CO LTD
Filing Date: 2025-09-24
Form: 424B3
Chunk 34
---
 SEC and PCAOB, and the HFCA Act all call for additional and more stringent criteria to be applied to emerging market companies upon assessing the qualification of their auditors, especially the non-U.S. auditors who are not inspected by the PCAOB.

The
AHFCA Act was enacted on December 29, 2022. On December 29, 2022, the “Consolidated Appropriations Act was signed
into law, which contained, among other things, an identical provision to the AHFCA Act and amended the HFCA Act by requiring the SEC
to prohibit an issuer’s securities from trading on any U.S. stock exchanges if its auditor is not subject to PCAOB
inspections for two consecutive years instead of three years. The AHFCA Act states that if the SEC determines that an
issuer has filed audit reports issued by a registered public accounting firm that has not been subject to inspection by the PCAOB
for two consecutive years, the SEC shall prohibit the securities of the issuer from being traded on a national securities
exchange or in the over-the-counter trading market in the U.S. (the applicable period under the HFCA Act prior to the enactment
of the AHFCA Act had been two years).

<div align='center'>16</div>

On March 24,
2021, the SEC adopted interim final rules relating to the implementation of certain disclosure and documentation requirements of the HFCA
Act. A company will be required to comply with these rules if the SEC identifies it as having a “non-inspection” year under
a process to be subsequently established by the SEC. The SEC is assessing how to implement other requirements of the HFCA Act, including
the listing and trading prohibition requirements described above. On December 2, 2021, the SEC adopted final amendments implementing
the disclosure and submission requirements of the HFCA Act.

On June 22,
2021, the U.S. Senate passed a bill which, if passed by the U.S. House of Representatives and signed into law, would reduce
the number of consecutive non-inspection years required for triggering the prohibitions under the HFCA Act from three years
to two years.

On November
5, 2021, the PCAOB approved a new rule, PCAOB Rule 6100, Board Determinations Under the HFCA Act to provide a framework for its
determinations under the HFCA Act that the PCAOB is unable to inspect or investigate completely registered public accounting firms located
in a foreign