Bionoid Pharma, Inc. Engages Olayinka Oyebola & Co. as PCAOB External Auditor for Annual Financial Audit
Rhea-AI Summary
Bionoid Pharma (OTC PINK:BINP) has appointed Olayinka Oyebola & Co., a PCAOB-registered firm, as its external auditor. The firm will conduct independent audits of BINP's financial statements for fiscal years ending December 31, 2022, and 2023. The audit will examine bookkeeping practices, internal controls, and US GAAP compliance, aiming to provide stakeholders with a clear view of the company's financial position. Wayne Cockburn, Interim CEO, states this engagement reflects their commitment to establishing robust financial governance while pursuing strategic objectives in the health and wellness sector.
Positive
- Engagement of PCAOB-registered auditor enhances financial transparency and regulatory compliance
- Implementation of comprehensive financial audit covering two fiscal years (2022-2023)
Negative
- Financial statements for 2022 and 2023 remain unaudited, indicating delayed financial reporting
- Current trading on OTC Pink market suggests lower tier listing status
News Market Reaction – BINP
In the trading session that priced this news, BINP gained 50.00%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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TORONTO, ON and NEW YORK, NY / ACCESSWIRE / November 7, 2024 / Bionoid Pharma, Inc. ("BINP") (OTC PINK:BINP) is pleased to announce the formal engagement of Olayinka Oyebola & Co., a PCAOB-registered firm, as the company's external auditor. This appointment marks an important step in enhancing BINP's commitment to transparency, accountability, and adherence to regulatory standards in financial reporting.
Under this agreement, Olayinka Oyebola & Co. will conduct an independent audit of BINP's financial statements for the fiscal years ending December 31, 2022, and December 31, 2023. The audit will be performed in accordance with the Public Company Accounting Oversight Board (PCAOB) standards and will include a review of BINP's bookkeeping practices, internal controls, and compliance with US GAAP. This rigorous audit process aims to provide shareholders and stakeholders with a clear and accurate view of the company's financial health.
"The engagement of Olayinka Oyebola & Co. reflects our commitment to establishing robust financial governance as we pursue our long-term strategic objectives," said Wayne Cockburn, Interim CEO of Bionoid Pharma. "Their expertise in PCAOB-compliant audits will provide the confidence and assurance needed for our stakeholders and prospective investors as BINP continues to grow and execute its acquisition strategy in the health and wellness sector."
For further information, contact:
Wayne Cockburn, Interim CEO
Phone: (905) 505-0770
bionoidpharma@gmail.com
www.bionoidpharma.com
SOURCE: Bionoid Pharma, Inc.
View the original press release on accesswire.com