An audit by a PCAOB-registered firm may not be req

An audit by a PCAOB-registered firm may not be required. According to KPMG, "If the acquired company is not already an SEC reporting company, its financial statements need not be audited by a PCAOB-registered firm, and the audit report need not refer to PCAOB  standards (i.e., the audit can be conducted in accordance with US generally accepted auditing standards)."