Day: May 4, 2025

March 2025 Auditor changes

by enthusiastUncategorized
Company Old Auditor New Auditor
Connexa Sports Technologies Inc.Bush & Associates CPAEnrome LLP
SIFCO Industries, Inc.RSM US LLPDeloitte
Xencor, Inc.RSM US LLPKPMG
Rithm Property Trust Inc.Moss Adams LLPEY
Coretag, IncGreenGrowth CPAsBoladale Lawal & Co.
Eva Live Inc.Michael Gillespie & Associates, PLLCOlayinka Oyebola & Co.
Magnachip Semiconductor CorporationSamil PwCEY
Winvest Group Ltd.JWF Assurance PACJ&S Associate PLT
ESG Inc.RH CPAPrager Metis CPAs, LLC
Free Flow USA, Inc.Yusufali & AssociatesBCRG Group, Inc.
Community Trust Bancorp, Inc.Forvis MazarsBDO
Hoops Scouting USAMichael Gillespie & Associates, PLLCBoladale Lawal & Co.
Nitches, Inc.Olayinka Oyebola & Co.
CF Bankshares Inc.Forvis Mazars, LLPPlante & Moran, PLLC
Laird Superfood, Inc.Moss Adams LLPKPMG
QXO, IncMarcum LLPDeloitte
Silicon Laboratories Inc.EYDeloitte
Forge Global Holdings, Inc.EYKPMG LLP
Victory Capital Holdings, Inc.EYDeloitte
Full House Resorts, Inc.DeloitteEY
LiveWire Group, Inc.EYKPMG
Marvion IncOlayinka Oyebola & Co.Victor Mokuolu, CPA PLLC
Finnovate Acquisition CorpMarcum LLPHTL International, LLC
Sierra BancorpRSM USForvis Mazars LLP
Middlesex Water CompanyBaker Tilly USPwC
Core Scientific, Inc.Marcum LLPKPMG
Serve Robotics Inc.dbbmckennonPwC
Turning Point Brands, Inc.RSM USKPMG
CECO Environmental Corp.BDODeloitte
Phoenix Motor Inc.Marcum AsiaYu CPA
Altair International Corp.Fruci & AssociatesMacias Gini & O’Connell

In March 2025, auditor changes remained active across both large and small public companies. Big Four firms such as Deloitte, EY, PwC, and KPMG continued to dominate the audit landscape, frequently being appointed by companies like Xencor, SIFCO Industries, and Victory Capital Holdings. At the same time, several smaller and mid-sized firms, including Boladale Lawal & Co., Victor Mokuolu, CPA PLLC, and HTL International, LLC, gained new engagements—especially among micro-cap and international issuers. The reasons behind these transitions vary from strategic realignments and firm resignations to regulatory or internal governance decisions. This ongoing reshuffling reflects both competitive dynamics and companies’ evolving expectations from their audit partners.

Auditor Changes – February 2025

by enthusiastAuditor changes

In February 2025, several public companies announced changes to their independent auditors. These transitions reflect broader trends such as firm consolidations, strategic realignments, and audit committee decisions to enhance financial oversight. Below is a summary of key auditor switches during the month:

Notable Auditor Transitions:

Company Outgoing Auditor Incoming Auditor
American Clean Resources Group, Inc.Turner Stone & Co.M&K CPAS PLLC
Sono-Tek CorporationMarcum LLPCBIZ CPAs P.C.
PharmaCyte Biotech, Inc.Marcum LLPCBIZ CPAs P.C.
Luna Innovations IncorporatedEYNot yet disclosed
New AspireMarcum LLPBush & Associates CPA LLC
Zhen Ding Resources Inc.TPS Thayer, LLCHTL International, LLC
United Express Inc.Yusufali & Associates, LLCBoladale Lawal & Co
SUIC Worldwide Holdings Ltd.HHL LLPVictor Mokuolu, CPA PLLC
Data443 Risk Mitigation, Inc.TPS Thayer, LLCHTL International, LLC
Transuite.Org Inc.Mac Accounting Group & CPAs, LLPJP Centurion & Partners PLT
BrightSpire Capital, Inc.EYDeloitte
Transcat, Inc.Freed Maxick P.C.Deloitte
Fastenal CompanyKPMGPwC
Spruce Power Holding CorporationDeloitteCohnReznick LLP
CSP Inc.RSM LLPCBIZ CPAs P.C.
iLearningEngines, Inc.Marcum LLPNot yet disclosed
CareMax NationalPwCNot yet disclosed

Observations & Trends:

  • CBIZ CPAs P.C. continues to grow, gaining multiple clients from Marcum LLP and RSM LLP, likely linked to CBIZ’s acquisition of Marcum’s attest business.
  • HTL International, LLC has replaced TPS Thayer at more than one company, signaling a potential uptick in market presence.
  • Auditor rotation among Big Four firms is evident, with Deloitte and PwC securing clients from EY, Freed Maxick, and KPMG.
  • Some companies have not yet announced their new auditors, indicating ongoing transitions or pending confirmations.

These auditor changes are key indicators of shifting strategies in financial governance, mergers, and audit firm capabilities. Keeping track of such developments helps stakeholders understand a company’s evolving risk posture and corporate decision-making.