Filing Analysis
🔍 Auditor Change
Filed Aug 05, 2024
🟠 HIGH
Xeriant, Inc. announced the resignation of its independent auditor, Accell Audit and Compliance, P.A., effective July 8, 2024, due to the firm ceasing PCAOB audit services. The company has appointed Astra Audit and Advisory, LLP as its new independent registered public accountant.
🚩 Red Flags
- Going concern language was present in the audit reports for fiscal years ended June 30, 2023, and 2022.
- Auditor change (even if due to firm restructuring) can lead to reporting delays or technical complexities in transitioning audits.
📋 Key Facts
- Accell Audit and Compliance, P.A. resigned effective July 8, 2024.
- Reason for resignation: Accell is ceasing to provide PCAOB audit services; principals are moving to Astra Audit and Advisory, LLP.
- Astra Audit and Advisory, LLP was appointed by the Board on July 17, 2024.
- The previous auditor's reports for FY 2023 and 2022 contained an explanatory paragraph regarding going concern uncertainty.
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It does not constitute financial advice, investment recommendations, or an offer to buy or sell securities.
Always review the original SEC filings and consult a financial advisor before making investment decisions.