Company: LICN
Filing Date: 2025-01-29
Form Type: 424B5
Source: 0001213900-25-007741
Chunk: 93

Company: Lichen International Ltd
Filing Date: 2025-01-29
Form: 424B5
Chunk 93
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RC authorities in those
jurisdictions. On August 26, 2022, the PCAOB announced that it had signed a Statement of Protocol (the “SOP”) with the
China Securities Regulatory Commission and the Ministry of Finance of China. The SOP, together with two protocol agreements governing
inspections and investigations (together, the “SOP Agreement”), establishes a specific, accountable framework to make possible
complete inspections and investigations by the PCAOB of audit firms based in mainland China and Hong Kong, as required under U.S. law.
On December 15, 2022, the PCAOB announced that it was able to secure complete access to inspect and investigate PCAOB-registered
public accounting firms headquartered in mainland China and Hong Kong completely in 2022. The PCAOB Board vacated its previous 2021
determinations that the PCAOB was unable to inspect or investigate completely registered public accounting firms headquartered in mainland
China and Hong Kong. However, whether the PCAOB will continue to be able to satisfactorily conduct inspections of PCAOB-registered
public accounting firms headquartered in mainland China and Hong Kong is subject to uncertainties and depends on a number of factors
out of our and our auditor’s control. The PCAOB continues to demand complete access in mainland China and Hong Kong moving
forward and is making plans to resume regular inspections in early 2023 and beyond, as well as to continue pursuing ongoing investigations
and initiate new investigations as needed. The PCAOB has also indicated that it will act immediately to consider the need to issue new
determinations with the HFCAA if needed.

Our auditor, Enrome LLP, the independent registered
public accounting firm, 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 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 Th