Brookmount Exploration Inc (BMXI)

[BigBadWolf]

Well now

No, PCAOB auditors or firms are generally not allowed to confirm an ongoing audit to the general public. The Public Company Accounting Oversight Board (PCAOB) has strict rules regarding confidentiality and the disclosure of audit information. Auditors are bound by professional standards and legal obligations that require them to maintain the confidentiality of client information, including details about ongoing audits.

Here are a few reasons why confirming an ongoing audit to the general public is typically not allowed:

Confidentiality Requirements: Auditors are required to maintain the confidentiality of client information under professional standards and legal regulations. Disclosing details about an ongoing audit could breach this confidentiality.

Market Sensitivity: Disclosure of an ongoing audit could lead to speculation or affect the market perception of the company being audited. It could potentially impact stock prices or investor confidence unfairly.

Legal and Regulatory Considerations: PCAOB auditors are subject to regulations that restrict the disclosure of audit-related information, especially before the audit is completed and findings are finalized.

Professional Ethics: Ethical standards for auditors emphasize the importance of maintaining independence, objectivity, and confidentiality. Confirming an ongoing audit could compromise these principles.

In summary, PCAOB auditors and firms must adhere to strict confidentiality requirements and are generally prohibited from confirming details about ongoing audits to the general public. Such disclosures could have legal, ethical, and practical implications that could undermine the integrity of the audit process and the profession as a whole.

https://finance.yahoo.com/news/brookmount-explorations-inc-shareholder-103000145.html
Newsfile Corp. Mon, Jul 27, 2020