Alliance Entertainment Appoints New Auditor

TL;DR

Alliance Entertainment swapped auditors from WithumSmith+Brown to PwC, no drama reported.

AI Summary

Alliance Entertainment Holding Corp. announced on November 18, 2024, that it has appointed PricewaterhouseCoopers LLP as its new independent registered public accounting firm. This change follows the resignation of its former auditor, WithumSmith+Brown, PC, effective November 15, 2024. The company stated that the decision to change auditors was not due to any disagreements or reportable events.

Why It Matters

Changing auditors can signal potential shifts in financial reporting or internal controls, which investors should monitor closely.

Risk Assessment

Risk Level: low — The filing concerns a routine change of auditors and does not indicate any financial distress or significant operational issues.

Key Players & Entities

• Alliance Entertainment Holding Corp. (company) — Registrant
• PricewaterhouseCoopers LLP (company) — New independent registered public accounting firm
• WithumSmith+Brown, PC (company) — Former independent registered public accounting firm
• November 18, 2024 (date) — Date of report and appointment announcement
• November 15, 2024 (date) — Effective date of former auditor's resignation

FAQ

Key Financial Figures

• $0.0001 — stered Class A common stock, par value $0.0001 per share AENT The Nasdaq Stock Mar
• $11.50 — A common stock at an exercise price of $11.50 per share AENTW The Nasdaq Stock Ma

Filing Documents

• form8-k.htm (8-K) — 49KB
• ex16-1.htm (EX-16.1) — 5KB
• 0001493152-24-047199.txt ( ) — 278KB
• aent-20241118.xsd (EX-101.SCH) — 4KB
• aent-20241118_def.xml (EX-101.DEF) — 29KB
• aent-20241118_lab.xml (EX-101.LAB) — 36KB
• aent-20241118_pre.xml (EX-101.PRE) — 27KB
• form8-k_htm.xml (XML) — 6KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): November 18, 2024 ALLIANCE ENTERTAINMENT HOLDING CORPORATION (Exact Name of Registrant as Specified in its Charter) Delaware 001-40014 85-2373325 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 8201 Peters Road , Suite 1000 Plantation , FL 33324 (Address of Principal Executive Offices) (Zip Code) (954) 255-4000 (Registrant's Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, par value $0.0001 per share AENT The Nasdaq Stock Market LLC Redeemable warrants, exercisable for shares of Class A common stock at an exercise price of $11.50 per share AENTW The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 4.01 Changes in Registrant's Certifying Accountant. (a) Dismissal of Independent Registered Public Accounting Firm On November 18, 2024, the Audit Committee of Alliance Entertainment Holding Corporation (the "Company") dismissed BDO USA, P.C. ("BDO") as the Company's independent registered public accounting firm. The Company's Audit Committee and Board of Directors participated in and approved the decision to change the Company's independent registered public accounting firm. BDO's reports on the Company's consolidated financial statements, which were included in the Company's Annual Reports on Form 10-K for the fiscal years ended June 30, 2024 and June 30, 2023, did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles, except that the report of BDO dated October 18, 2023 contained an explanatory paragraph expressing substantial doubt about the Company's ability to continue as a going concern. During the fiscal years ended June 30, 2024 and 2023, and the subsequent interim period through November 18, 2024, there were no disagreements with BDO on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of BDO, would have caused BDO to make reference to the subject matter of the disagreements as defined in Item 304(a)(1)(iv) of Regulation S-K in connection with any reports it would have issued, and there were no "reportable events" as such term is described in Item 304(a)(1)(v) of Regulation S-K, except for the material weaknesses in internal control over financial reporting related to the Company's entity level controls, information technology general controls, and financial close processes described in Item 9A of our Annual Report on Form 10-K for the fiscal year ended June 30, 2024 and the material weaknesses in internal control over financial reporting related to the Company's entity level controls, information technology general controls, financial close processes, disclosures and related processes, and the annual impairment analysis described in Item 9A of our Annual Report on Form 10-K for the fiscal year ended June 30, 2023. The Company has provided BDO with a copy of the foregoing disclosure and requested that BDO furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with such disclosure. A copy of the letter from BDO dated as of November 21, 2024 is filed as Exhibit 16.1 to this Current Report on Form 8-K. (b) Engagement of New Independent Registered Public Accounting Firm On November 18, 2024, the Company's Audit Committee approve

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