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Good day pinoylawyer.org. Diana from Cebu city. I have searched SEC rulings regarding public companies, and my queries were not satisfied. I just want to humbly ask of you if you can help me with my queries:
1. If a corporation has less than 40 shareholders, but not more than 100, will it qualify as public company?
2. Can an independent auditor issue a qualified or disclaimer of opinion to a public company? Or it needs to be a clean opinion (unqualified or adverse)?
I am looking forward to your response.
Thank you very much and more power.
1. If a corporation has less than 40 shareholders, but not more than 100, will it qualify as public company?
2. Can an independent auditor issue a qualified or disclaimer of opinion to a public company? Or it needs to be a clean opinion (unqualified or adverse)?
I am looking forward to your response.
Thank you very much and more power.
