Deaf-Talk Inc. (fka MGQG)

[pinkyringcapital]

jaxstraw, you are correct in saying the audit firm will have to be certified by the PCAOB. However, there are a few more firms than the ones you listed. The list on the website shows the firm's home office location. So the ones you listed below have home offices in Pittsburgh. However, the largest CPA firms have offices practically everywhere. Take Pricewaterhousecoopers for example, thier home office is in NY but they also have a Pittsburgh office that would be able to perform the audit.

I am sure the company has engaged attorneys who are well versed in the legal requirements of public companies. This is a specialty area that not all law firms deal with. The company would no doubt get a list of a half dozen or so CPA firms that their attorney has worked with in the past and then solicit bids for the audit work. Typically the bids would be for a three year period. The first year audit will cost an arm and a leg but the subsequent years will be more reasonable. That's why it's fairly common to solicit a 3 year bid.