Company: SDAWW
Filing Date: 2025-02-06
Form Type: 424B5
Source: 0001213900-25-010989
Chunk: 70

Company: SunCar Technology Group Inc.
Filing Date: 2025-02-06
Form: 424B5
Chunk 70
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 a regular basis and is therefore not subject to the determinations announced by the
PCAOB on December 16, 2021. However, since the audit work was carried out by SunCar’s auditor with the collaboration of its China-based
office, the audit working papers of SunCar’s financial statements may not be inspected by the PCAOB without the approval of the
PRC authorities. On August 26, 2022, the PCAOB announced and signed a Statement of Protocol (the “Protocol”) with the China
Securities Regulatory Commission and the Ministry of Finance of the People’s Republic of China. The Protocol provides the PCAOB
with: (1) sole discretion to select the firms, audit engagements and potential violations it inspects and investigates, without any involvement
of Chinese authorities; (2) procedures for PCAOB inspectors and investigators to view complete audit work papers with all information
included and for the PCAOB to retain information as needed; (3) direct access to interview and take testimony from all personnel associated
with the audits the PCAOB inspects or investigates. On December 15, 2022, the PCAOB announced in the 2022 Determination its determination
that the PCAOB was able to secure complete access to inspect and investigate accounting firms headquartered in mainland China and Hong
Kong, and the PCAOB Board voted to vacate previous determinations to the contrary. Should the PCAOB again encounter impediments to inspections
and investigations in mainland China or Hong Kong as a result of positions taken by any authority in either jurisdiction, including by
the CSRC or the MOF, the PCAOB will make determinations under the HFCAA as and when appropriate. We cannot assure you whether Nasdaq or
regulatory authorities would apply additional and more stringent criteria to us after considering the effectiveness of our auditor’s
audit procedures and quality control procedures, adequacy of personnel and training, or sufficiency of resources, geographic reach, or
experience as it relates to the audit of our financial statements. There is a risk that the PCAOB is unable to inspect or investigate
completely the Company’s auditor because of a position taken by an authority in a foreign jurisdiction or any other reasons, and
that the PCAOB may re-evaluate its determinations as a result of any obstruction with the implementation of the Protocol. Such lack of
inspection or re-evaluation could cause trading in the Company’s securities to be prohibited under the HFCAA ultimately result in
a determination by a securities exchange to del