Old Orchard Cider (OOC), an audit client of J&J LLP, is currently privately held. OOC is planning

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Question:

Old Orchard Cider (OOC), an audit client of J&J LLP, is currently privately held. OOC is planning an initial public offering (IPO) for next year.
J&J already performs audits of other public companies, but Ananya, the audit manager, has never been on any of those engagements.

Required:
a) Explain the auditor's responsibilities related to the IPO and related prospectus.

b) Provide two procedures that the auditors would perform.