Company: EZOO
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001641172-25-010460
Chunk: 583

Company: Ezagoo Ltd
Filing Date: 2025-05-15
Form: 10-K
Item: Item 1A
Chunk 583
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listed companies with significant operations in China. As part of a continued regulatory focus in the United States on
access to audit and other information, the Holding Foreign Companies Accountable Act, or the HFCAA, was enacted on December 18, 2020.
The HFCAA includes requirements for the SEC to identify issuers whose audit work is performed by auditors that the PCAOB is unable to
inspect or investigate completely because of a restriction imposed by a non-U.S. authority in the auditor’s local jurisdiction.
The HFCAA also requires that, to the extent that the PCAOB has been unable to inspect an issuer’s auditor for three consecutive
years since 2021, the SEC shall prohibit its securities registered in the United States from being traded on any national securities
exchange or over-the-counter markets in the United States.

On
March 24, 2021, the SEC adopted interim final rules relating to the implementation of certain disclosure and documentation requirements
of the HFCAA. The interim final rule applies to registrants that the SEC identifies as having filed an annual report with an audit report
issued by a registered public accounting firm that is located in a foreign jurisdiction that the PCAOB is unable to inspect or investigate
completely because of a position taken by an authority in that jurisdiction. Consistent with the HFCAA, the interim final rule requires
the submission of documentation to the SEC establishing that such a registrant is not owned or controlled by a government entity in that
foreign jurisdiction and also requires disclosure in a foreign issuer’s annual report regarding the audit arrangements of, and
government influence on, such registrants. On May 13, 2021, the PCAOB issued proposed PCAOB Rule 6100, Board Determinations Under the
Holding Foreign Companies Accountable Act for public comment. The proposed rule provides a framework for making determinations as to
whether PCAOB is unable to inspect an audit firm in a foreign jurisdiction, including the timing, factors, bases, publication and revocation
or modification of such determinations, and such determinations will be made on a jurisdiction-wide basis in a consistent manner applicable
to all firms headquartered in the jurisdiction. In November 2021, the SEC approved PCAOB Rule 6100. On December 2, 2021, the SEC adopted
amendments to final rules implementing the disclosure and submission requirements of the HFCAA.

14

On
June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act