Creatd, Inc. Changes Auditors Amidst Accounting Disagreement
Ticker: CRTDD · Form: 8-K · Filed: Jun 27, 2024 · CIK: 1357671
| Field | Detail |
|---|---|
| Company | Creatd, INC. (CRTDD) |
| Form Type | 8-K |
| Filed Date | Jun 27, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting, revenue-recognition
TL;DR
Creatd dumped Marcum LLP over revenue recognition issues and hired WithumSmith+Brown, PC.
AI Summary
On June 25, 2024, Creatd, Inc. announced a change in its independent registered public accounting firm. The company dismissed Marcum LLP and engaged WithumSmith+Brown, PC as its new auditor. This change follows a disagreement with Marcum LLP regarding the accounting treatment of certain revenue recognition matters.
Why It Matters
A change in auditors, especially one involving disagreements, can signal potential accounting issues or a shift in financial reporting strategy, which is crucial for investor confidence.
Risk Assessment
Risk Level: medium — A change in auditor, particularly when linked to disagreements over accounting treatment, can indicate underlying financial complexities or potential restatements, increasing risk.
Key Players & Entities
- Creatd, Inc. (company) — Registrant
- Marcum LLP (company) — Former independent registered public accounting firm
- WithumSmith+Brown, PC (company) — Newly engaged independent registered public accounting firm
- June 25, 2024 (date) — Date of earliest event reported
FAQ
Why did Creatd, Inc. dismiss Marcum LLP?
Creatd, Inc. dismissed Marcum LLP due to a disagreement concerning the accounting treatment of certain revenue recognition matters.
When was the dismissal of Marcum LLP effective?
The dismissal of Marcum LLP was effective as of June 25, 2024.
Who is Creatd, Inc.'s new independent registered public accounting firm?
Creatd, Inc. has engaged WithumSmith+Brown, PC as its new independent registered public accounting firm.
Did Marcum LLP audit any financial statements that were previously filed?
Yes, Marcum LLP audited the financial statements of Creatd, Inc. for the fiscal year ended December 31, 2023, and their report was included in the Company's Annual Report on Form 10-K filed on March 28, 2024.
Has Creatd, Inc. consulted with WithumSmith+Brown, PC regarding internal controls or accounting matters?
Yes, Creatd, Inc. has consulted with WithumSmith+Brown, PC on matters related to accounting and financial reporting, and no recommendations were made that would have resulted in or be likely to result in an adverse accounting treatment or a material misstatement of any of the Company's financial statements.
Filing Stats: 525 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-06-27 09:30:10
Filing Documents
- ea0208601-8k_creatd.htm (8-K) — 38KB
- ea020860101ex16-1_creatd.htm (EX-16.1) — 3KB
- ex16-1_001.jpg (GRAPHIC) — 4KB
- ex16-1_002.jpg (GRAPHIC) — 10KB
- 0001213900-24-056381.txt ( ) — 225KB
- crtd-20240625.xsd (EX-101.SCH) — 3KB
- crtd-20240625_lab.xml (EX-101.LAB) — 33KB
- crtd-20240625_pre.xml (EX-101.PRE) — 22KB
- ea0208601-8k_creatd_htm.xml (XML) — 3KB
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. CREATD, INC. Date: June 27, 2024 By: /s/ Jeremy Frommer Name: Jeremy Frommer Title: Chief Executive Officer 2