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Public Companies

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1 Public Companies on Mon Jul 09, 2012 3:07 pm


Arresto Menor
Good day 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.

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