In the first 15 days of September 2024, several SEC-registered companies made significant announcements about changes in their independent auditors. These changes, while routine in some cases, can signal key shifts in corporate governance, financial strategies, or operational focus. For publicly traded companies in the United States, changes in auditors are not only a major event. They are also a regulated process. These changes must be disclosed to shareholders and the public through specific filings with the U.S. Securities and Exchange Commission (SEC).
When a company registered with the SEC changes its auditor, it needs to file a “Form 8-K”. This form informs the SEC, investors, and the public of significant corporate events. These events include changes in the company’s certifying accountant. Specifically, the filing must reveal the key items under “Item 4.01: Changes in Registrant’s Certifying Accountant”:
– The date the former auditor was dismissed or resigned.
– Whether the decision was recommended or approved by the audit committee or board of directors.
– Any disagreements with the former auditor on accounting practices, financial statement disclosures, or auditing procedures.
– Whether the former auditor’s reports for the past two fiscal years contained adverse opinions or disclaimers.
Below is the summary of Form 8-K, Item 4.01 filed in the month of September:
| Company | Old Auditor | New Auditor | Reason |
|---|---|---|---|
| Oruka Therapeutics, Inc. (ABIO) | KPMG | PwC | Dismissal |
| MESA LABORATORIES INC | RSM | Moss Adams | Dismissal |
| Flag Ship Acquisition Corporation | Marcum | MaloneBailey | Dismissal |
| Bloom HoldCo LLC | Withum | N/A | Not standing for reappointment |
| FingerMotion, Inc. | Centurion ZD | CT International | Termination |
| Raphael Pharmaceutical Inc. | Weinstein | Elkana Amitai | Dismissal |
| Sensus Healthcare, Inc. | Marcum | Berkowitz Pollack | Resignation – Independence issues |
| Outdoor Specialty Products, Inc. | GreenGrowth CPAs | MAC Accounting Group | Dismissal |
| Rani Therapeutics Holdings, Inc. | EY | Marcum | Dismissal |
| Interface, Inc. | BDO | EY | Dismissal |
| Emmaus Life Sciences, Inc. | BakerTilly | N/A | Not standing for reappointment |
| China Health Industries Holdings, Inc. | Assentsure PAC | GGF CPA LTD | Dismissal |
| Marquie Group, Inc. | GreenGrowth CPAs | Olayinka Oyebola & Co. CPAs | Dismissal |
| Tianci International, Inc | Michael T. Studer CPA P.C. | Bush & Associates CPA | Dismissal |
| Noble Roman’s, Inc. | Assurance Dimensions | Sassetti LLC | Dismissal |
| Kinetic Group Inc | N/A | Victor Mokuolu, CPA PLLC | Appointment |
| Great Elm Group, Inc. | Grant Thornton LLP | Deloitte | Dismissal |
| Primis Financial Corp. | Forvis Mazars | N/A | Not standing for reappointment |
| bowmo, Inc. | N/A | Olayinka Oyebola | Appointment |
| Leafbuyer Technologies, Inc | Barton CPA | BCRG Group | Dismissal |
| Vanija Corporation | Yusufali & Associates | Boladale Lawal & Co. | Dismissal |
| Cardiff Lexington Corporation | Grassi & Co., CPAs, P.C. | GBQ Partners LLC | Resignation |
| Rubicon Technologies Inc. | Cherry Bekaert LLP | CohnReznick LLP | Not standing for reappointment |
| Nova LifeStyle, Inc. | WWC, P.C. | Enrome LLP | Dismissal |
| Virpax Pharmaceuticals, Inc. | EisnerAmper LLP | Bush & Associated CPA LLC | Resignation |
| Investcorp Credit Management BDC, Inc. | RSM US LLP | KPMG LLP | Dismissal |
| Stardust Power Inc. | WithumSmith+Brown, PC | KNAV CPA LLP | Dismissal |
| Advent Technologies Holdings, Inc. | Ernst & Young (Hellas) | M&K CPAS, PLLC | Dismissal |
| HCW Biologics Inc. | Grant Thornton LLP | Crowe LLP | Dismissal |
| ContextLogic Inc. | PwC | BPM LLP | Dismissal |
| Smith & Wesson Brands, Inc. | Deloitte & Touche LLP | KPMG LLP | Dismissal |
| SBC Medical Group Holdings Inc | Marcum LLP | MaloneBailey, LLP | Dismissal |
| GEX Management, Inc. | Fruci & Associates II PLLC | Astra Audit & Advisory LLC | Resignation |
| Coeptis Therapeutics Holdings, Inc. | Turner, Stone & Company, LLP | Astra Audit & Advisory, LLC | N/A |
| OneSolution Technology Inc. | J&S Associate PLT | Olayinka Oyebola & Co. | Resignation |