Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 328

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1A
Chunk 328
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us Partners, LLC, which
is subject to inspection by the PCAOB and as a result, we affirmatively exclude any target of which financial statements are audited by
an accounting firm that the PCAOB is unable to inspect for two consecutive years beginning in 2022 and thus, we may not be able to consummate
a business combination with a favored target business due to these laws.

On November 5, 2021, the SEC approved the PCAOB’s Rule 6100,
Board Determinations Under the Holding Foreign Companies Accountable Act. Rule 6100 provides a framework for the PCAOB to use when determining,
as contemplated under the HFCA Act, whether it is unable to inspect or investigate completely registered public accounting firms located
in a foreign jurisdiction because of a position taken by one or more authorities in that jurisdiction.

On December 2, 2021, the SEC issued amendments to finalize rules implementing
the submission and disclosure requirements of the HFCA Act. The rules apply 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 and that the
PCAOB is unable to inspect or investigate completely because of a position taken by an authority in a foreign jurisdiction.

61

Pursuant to the HFCA Act, the PCAOB issued a Determination Report on
December 16, 2021 which found that the PCAOB is unable to inspect or investigate completely registered public accounting firms headquartered
in (1) mainland China of the PRC because of a position taken by one or more authorities in mainland China and (2) Hong Kong, a Special
Administrative Region and dependency of the PRC, because of a position taken by one or more authorities in Hong Kong. In addition, the
PCAOB’s report identified the specific registered public accounting firms which are subject to these determinations.

On August 26, 2022, the PCAOB signed the SOP with the CSRC and the
Ministry of Finance of PRC, taking the first step toward opening access for the PCAOB to inspect and investigate registered public accounting
firms headquartered in mainland China and Hong Kong completely, consistent with U.S. law. Pursuant to the SOP, the PCAOB shall have independent
discretion to select any issuer audits for inspection or investigation and has the unfettered ability to transfer information to the SEC.
However, uncertainties still exist as to whether the applicable parties, including governmental agencies, will