Street Calls of the Week
9F Inc. (NASDAQ:JFU) announced Thursday that its board of directors and audit committee have approved the dismissal of Wei, Wei & Co., LLP as the company’s independent registered public accounting firm, effective Monday. The company has appointed Marcum Asia CPAs LLP as its new independent registered public accounting firm for the fiscal year ending December 31, 2025, also effective Monday.
According to a press release statement, the reports from Wei, Wei & Co., LLP on 9F Inc .’s consolidated financial statements for the fiscal years ended December 31, 2024, and December 31, 2023, did not contain any adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles.
The filing further states that during the fiscal years ended December 31, 2024 and 2023, and through the interim period ending Monday, there were no disagreements between 9F Inc. and Wei, Wei & Co., LLP on matters of accounting principles, financial statement disclosure, or auditing scope or procedure that would have required reference in the auditor’s reports.
The company did note material weaknesses in its internal control over financial reporting, specifically a lack of sufficient financial reporting and accounting personnel with appropriate U.S. GAAP knowledge and SEC reporting experience, inadequate documentation to support certain accounting transactions, and insufficient policies and procedures to monitor the accounting treatment of complex financial instruments.
This information is based on a press release statement disclosed in a recent SEC filing.
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