Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 292

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1A
Chunk 292
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 investigate registered public accounting firms headquartered
in mainland China and Hong Kong completely, consistent with U.S. law. The Statement of Protocol gives the PCAOB sole discretion to select
the firms, audit engagements and potential violations it inspects and investigates and put in place 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. In
addition, the Statement of Protocol grants the PCAOB direct access to interview and take testimony from all personnel associated with
the audits the PCAOB inspects or investigates. While significant, uncertainties still exist as to how the Statement of Protocol will
be implemented and whether the applicable parties will comply with the framework.

The
lack of access to the PCAOB inspection in certain emerging markets prevents the PCAOB from fully evaluating audits and quality control
procedures of the auditors based in those emerging markets. As a result, the investors may be deprived of the benefits of such PCAOB
inspections. The inability of the PCAOB to conduct inspections of auditors in certain emerging markets makes it more difficult to evaluate
the effectiveness of these accounting firms’ audit procedures or quality control procedures as compared to auditors outside of
those emerging markets that are subject to the PCAOB inspections, which could cause existing and potential investors in our shares to
lose confidence in our audit procedures and reported financial information and the quality of our financial statements.

Our
auditor, the independent registered public accounting firm that issues the audit report included elsewhere in this Form 10-K, as an auditor
of companies that are traded publicly in the United States and a firm registered with the PCAOB, is subject to laws in the United States
pursuant to which the PCAOB conducts regular inspections to assess our auditor’s compliance with the applicable professional standards.
Our auditor is subject to inspection by the PCAOB on a regular basis with the last inspection report dated June 26, 2023. As such,
as of the date of this Form 10-K, our auditor is not subject to the determinations announced by the PCAOB on December 16, 2021. On December
29, 2022, the President Joseph Biden signed the Consolidated Appropriations Act, 2023, which, among other things, amended the HFCAA to
reduce the number of consecutive years an issuer can be identified as a Commission-Identified Issuer before the SEC must impose an initial
trading prohibition on the issuer’s securities from three years to