ACRES Commercial Realty Corp. Appoints New Auditor

TL;DR

ACRES swapped auditors, bringing in BDO USA, LLP to replace CohnReznick LLP.

AI Summary

ACRES Commercial Realty Corp. announced on April 23, 2024, that it has appointed BDO USA, LLP as its new independent registered public accounting firm, replacing CohnReznick LLP. This change is effective immediately.

Why It Matters

A change in auditor can signal potential shifts in financial reporting scrutiny or internal control assessments for the company.

Risk Assessment

Risk Level: low — The filing solely concerns a change in the company's independent auditor, which is a routine administrative event.

Key Players & Entities

• ACRES Commercial Realty Corp. (company) — Registrant
• BDO USA, LLP (company) — New independent registered public accounting firm
• CohnReznick LLP (company) — Former independent registered public accounting firm
• April 23, 2024 (date) — Effective date of auditor change

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share ACR New York St

Filing Documents

• acr-20240423.htm (8-K) — 48KB
• acr-ex16_1.htm (EX-16.1) — 5KB
• 0000950170-24-049113.txt ( ) — 202KB
• acr-20240423.xsd (EX-101.SCH) — 45KB
• acr-20240423_htm.xml (XML) — 7KB

01 Changes in Registrant's Certifying Accountant

Item 4.01 Changes in Registrant's Certifying Accountant (a) Dismissal of Previous Independent Registered Public Accounting Firm On April 23, 2024, the Audit Committee (the "Audit Committee") of the Board of Directors of ACRES Commercial Realty Corp. (the "Company") determined to dismiss Grant Thornton LLP ("Grant Thornton") as the Company's independent registered public accounting firm, effective upon filing the Company's Form 10-Q for the quarter ended March 31, 2024. The dismissal is not related to any disagreements with Grant Thornton on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. The reports of Grant Thornton on the consolidated financial statements of the Company as of and for the fiscal years ended December 31, 2023 and 2022 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles. During the fiscal years ended December 31, 2023 and 2022, as well as the subsequent interim periods through the date of this report, there were no disagreements within the meaning of Item 304(a)(1)(iv) of Regulation S-K between the Company and Grant Thornton on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, any of which, if not resolved to Grant Thornton's satisfaction, would have caused Grant Thornton to make reference thereto in their reports. Additionally, during the fiscal years ended December 31, 2023 and 2022, as well as the subsequent interim periods through the date of this report, there were no "reportable events" (as described in Item 304(a)(1)(v) of Regulation S-K). The Company provided Grant Thornton with a copy of the disclosures it is making in this Current Report on Form 8-K and requested that Grant Thornton furnish the Company with a letter addressed to the SEC stating whether it agrees with the statements made herein and, if n

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 16.1 Letter from Grant Thornton LLP dated April 26, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ACRES COMMERCIAL REALTY CORP. Date: April 26, 2024 By: /s/ Eldron C. Blackwell Eldron C. Blackwell Senior Vice President, Chief Financial Officer and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR