AMREP Corp. Appoints New Auditor

TL;DR

AMREP swapped auditors, BDO USA, LLP is in, CohnReznick LLP is out.

AI Summary

AMREP Corporation (AMR) announced on July 24, 2024, that it has appointed BDO USA, LLP as its new independent registered public accounting firm, replacing CohnReznick LLP. This change is effective immediately, and CohnReznick LLP has not had any disagreements with AMREP Corporation on any matter of accounting principles or practices or financial statement disclosure.

Why It Matters

Changing auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors will monitor.

Risk Assessment

Risk Level: low — The filing is a routine change of auditor and does not indicate any immediate financial distress or significant operational changes.

Key Players & Entities

• AMREP Corporation (company) — Registrant
• BDO USA, LLP (company) — New independent registered public accounting firm
• CohnReznick LLP (company) — Former independent registered public accounting firm
• July 24, 2024 (date) — Date of earliest event reported

FAQ

Filing Documents

• tm2420180d1_8k.htm (8-K) — 29KB
• tm2420180d1_ex16-1.htm (EX-16.1) — 3KB
• 0001104659-24-082652.txt ( ) — 203KB
• axr-20240725.xsd (EX-101.SCH) — 3KB
• axr-20240725_lab.xml (EX-101.LAB) — 33KB
• axr-20240725_pre.xml (EX-101.PRE) — 22KB
• tm2420180d1_8k_htm.xml (XML) — 4KB

01 Changes in Registrant's Certifying Accountant

Item 4.01 Changes in Registrant's Certifying Accountant. (a) Previous independent registered public accounting firm. On July 24, 2024, AMREP Corporation (the "Company") dismissed Baker Tilly US, LLP ("Baker") as the Company's independent registered public accounting firm. The Audit Committee of the Company's Board of Directors approved the dismissal of Baker. The audit reports of Baker on the consolidated financial statements of the Company for each of the two most recent fiscal years ended April 30, 2024 and April 30, 2023 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 Company's two most recent fiscal years ended April 30, 2024 and April 30, 2023 and during the subsequent interim period from May 1, 2024 through July 24, 2024, (i) there were no disagreements with Baker on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures that, if not resolved to Baker's satisfaction, would have caused Baker to make reference to the Item 304(a)(1)(v) of Regulation S-K). The Company provided Baker with a copy of the disclosures in this report prior to filing with the Securities and Exchange Commission. A copy of Baker's letter dated July 25, 2024 to the Securities and Exchange Commission, stating whether it agrees with the statements made in this report, is filed as Exhibit 16.1 to this report. (b) Appointment of new independent registered public accounting firm. On July 24, 2024, the Audit Committee of the Company's Board of Directors engaged Rosenberg Rich Baker Berman, P.A. ("RRBB") as the Company's independent registered public accounting firm for the fiscal year ending April 30, 2025. During the Company's two most recent fiscal years ended April 30, 2024 and April 30, 2023 an

01 Financial Statements

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 16.1 Letter, dated July 25, 2024, from Baker Tilly US, LLP. 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. AMREP Corporation Date: July 25, 2024 By: /s/ Christopher V. Vitale Name: Christopher V. Vitale Title: President and Chief Executive Officer EXHIBIT INDEX Exhibit Number Description 16.1 Letter, dated July 25, 2024, from Baker Tilly US, LLP. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

View Full Filing

View this 8-K filing on SEC EDGAR