Rocky point brewery (rpb) filed an initial public offering in january 2016. rpb engaged olsen & alain, cpas (o& a) in 2013 to keep the books and prepare monthly and annual financial statements (while the company was privately-held), and terminated those services in december 2015. under sec and pcaob rules, could rpb engage o& a to be their auditors now that it is a public company?
a.) yes, but only if o& a rescinds any indemnification language existing in their non-audit engagement letters. b.) no, but only if the fees o& a received from these engagements exceeded five percent of the firm's annual revenues. c.) yes, because the prohibited non-audit services were performed before the period of professional engagement. d.) no, because the prohibited non-audit services were performed during the period covered by the financial statements.