Company: LICN
Filing Date: 2025-01-29
Form Type: 424B5
Source: 0001213900-25-007741
Chunk: 143

Company: Lichen International Ltd
Filing Date: 2025-01-29
Form: 424B5
Chunk 143
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OB conducts regular inspections to assess Enrome
LLP’s compliance with applicable professional standards. Enrome LLP is headquartered in Singapore. As of the date of this
annual report, Enrome LLP is not included in the list of PCAOB Identified Firms in the PCAOB Determination Report issued in December
2021. Our auditors, B&V for the fiscal year ended December 31, 2020 and TPS Thayer for the fiscal year ended December 31, 2021
and 2022, are both based in the U.S. B&V withdrew its registration from the PCAOB in January 2022. TPS Thayer is headquartered
in Sugar Land, Texas, and its registration with the PCAOB took effect in September 2020 and it is currently subject to PCAOB
inspections.

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.

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Trading in our securities may be prohibited under the HFCAA and as a result an exchange may determine to delist our securities if it is later determined that the PCAOB is unable to inspect or investigate completely our auditor because of a position taken by an authority in a foreign jurisdiction.

The HFCAA, was enacted on December 18, 2020.
The HFCAA states if the SEC determines that a company has filed audit reports issued by a registered public accounting firm that has not
been subject to inspection by the PCAOB for three consecutive years beginning in 2021, the SEC shall prohibit such shares from being
traded on a national securities exchange or in the over-the-counter trading market in the U.S.

On March 24, 2021, the SEC adopted interim
final rules relating to the implementation of certain disclosure and documentation requirements of the HFCAA. 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 HFCAA, including the listing and trading prohibition
requirements described above.

Despite that we have a U.S.-based auditor that
is registered with the PCAOB and subject to PCAOB inspection, there are still risks to the