Caro Holdings Inc. Appoints New Auditor

TL;DR

Caro Holdings Inc. swapped auditors from Sadler, Gibb & Associates to Malone Bailey LLP.

AI Summary

Caro Holdings Inc. announced on May 3, 2024, a change in its certifying accountant. The company has dismissed its previous independent registered public accounting firm, Sadler, Gibb & Associates, LLC, and has appointed MaloneBailey LLP as its new principal accountant. This change was approved by the Audit Committee of the Board of Directors.

Why It Matters

A change in auditor can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors should monitor.

Risk Assessment

Risk Level: medium — Changes in auditors can sometimes precede or coincide with other significant events, warranting closer attention.

Key Players & Entities

• Caro Holdings Inc. (company) — Registrant
• Sadler, Gibb & Associates, LLC (company) — Previous Certifying Accountant
• Malone Bailey LLP (company) — New Certifying Accountant
• May 03, 2024 (date) — Date of earliest event reported

FAQ

Filing Documents

• caro_8k.htm (8-K) — 25KB
• 0001640334-24-000846.txt ( ) — 137KB
• caro-20240503.xsd (EX-101.SCH) — 6KB
• caro-20240503_lab.xml (EX-101.LAB) — 13KB
• caro-20240503_cal.xml (EX-101.CAL) — 1KB
• caro-20240503_pre.xml (EX-101.PRE) — 8KB
• caro-20240503_def.xml (EX-101.DEF) — 2KB
• caro_8k_htm.xml (XML) — 3KB

01 Changes in Company's Certifying Accountant

Item 4.01 Changes in Company's Certifying Accountant . 1) Dismissal of BF Borgers CPA PC ("BFB") as Independent Registered Public Accountant On May 13, 2024, Caro Holdings Inc. (the "Company") Board of Directors formally dismissed BF Borgers as the Company's independent registered public accounting firm. On May 3, 2024, the Securities and Exchange Commission (the "SEC") permanently suspended BF Borgers CPA PC ("BF Borgers") from appearing or practicing before the SEC as an accountant. The reports of BF Borgers on the Company's consolidated financial statements as of and for the fiscal year ended March 31, 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 other than an explanatory paragraph relating to the Company's ability to continue as a going concern. During the fiscal year ended March 31, 2023 through May 13, 2024, there were no "disagreements" with BF Borgers 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 BF Borgers would have caused BF Borgers to make reference thereto in its reports on the consolidated financial statement for such years. During the fiscal years ended March 31, 2023 through May 13, 2024, there have been no "reportable events" (as defined in Item 304(a)(1)(iv) and Item 304(a)(1)(v) of Registration S-K), except for the identified material weaknesses in its internal control over financial reporting as disclosed in the Company's Annual Report. The Company provided BF Borgers with a copy of the disclosure made herein in response to Item 304(a) of Regulation S-K. As contemplated by the SEC's Staff Statement on Issuer Disclosure and Reporting Obligations in Light of Rule 102(e) Order against BF Borgers CPA PC, which was disseminated by the SEC on May 13, 2024, in lieu of including a letter from BF Borgers statin

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized. CARO HOLDINGS INC. Date: May 17, 2024 By: /s/ Meriesha Rennalls Name: Meriesha Rennalls Title: President 3

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View this 8-K filing on SEC EDGAR