CytoDyn Inc. Changes Independent Auditors
Ticker: CYDY · Form: 8-K · Filed: Jun 28, 2024 · CIK: 1175680
| Field | Detail |
|---|---|
| Company | Cytodyn Inc. (CYDY) |
| Form Type | 8-K |
| Filed Date | Jun 28, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
Related Tickers: CYDY
TL;DR
CytoDyn swapped auditors, ditching SBM for Armanino LLP.
AI Summary
CytoDyn Inc. announced on June 28, 2024, a change in its certifying accountant. The company has dismissed its previous independent registered public accounting firm, Semple, Benner, Marrinan & Co., P.A. (SBM), effective June 25, 2024. CytoDyn Inc. has appointed Armanino LLP as its new independent registered public accounting firm.
Why It Matters
A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, potentially impacting investor confidence.
Risk Assessment
Risk Level: medium — Changes in auditors can sometimes precede or coincide with financial restatements or other disclosures that may impact the company's financial health.
Key Players & Entities
- CytoDyn Inc. (company) — Registrant
- Semple, Benner, Marrinan & Co., P.A. (company) — Former certifying accountant
- Armanino LLP (company) — New certifying accountant
- June 28, 2024 (date) — Date of report
- June 25, 2024 (date) — Effective date of dismissal
FAQ
When was the change in certifying accountant effective?
The change in certifying accountant was effective June 25, 2024.
Who was CytoDyn Inc.'s former certifying accountant?
CytoDyn Inc.'s former certifying accountant was Semple, Benner, Marrinan & Co., P.A. (SBM).
Who is CytoDyn Inc.'s new certifying accountant?
CytoDyn Inc.'s new certifying accountant is Armanino LLP.
Did the former accountant's report on financial statements contain an adverse opinion or disclaimer of opinion?
The filing states that the former accountant's reports on the financial statements for the past two fiscal years did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit basis, or scope of the audit.
Were there any disagreements with the former accountant that led to the change?
The filing indicates that there were no disagreements between CytoDyn Inc. and Semple, Benner, Marrinan & Co., P.A. on any matter of accounting principles or practices or financial statement disclosure.
Filing Stats: 401 words · 2 min read · ~1 pages · Grade level 12.2 · Accepted 2024-06-28 17:00:52
Filing Documents
- cydy-20240628x8k.htm (8-K) — 30KB
- 0001558370-24-009629.txt ( ) — 155KB
- cydy-20240628.xsd (EX-101.SCH) — 3KB
- cydy-20240628_lab.xml (EX-101.LAB) — 17KB
- cydy-20240628_pre.xml (EX-101.PRE) — 12KB
- cydy-20240628x8k_htm.xml (XML) — 4KB
01. Changes in Registrant's Certifying Accountant
Item 4.01. Changes in Registrant's Certifying Accountant. On June 28, 2024, the Audit Committee of the Board of Directors of CytoDyn Inc. (the "Company") engaged Marcum LLP ("Marcum") and appointed the firm as the Company's independent registered public accounting firm, effective immediately, to perform audit services for the Company's fiscal year ended May 31, 2024, and review services for the quarters ending August 31, 2024, November 30, 2024, and February 28, 2025. SIGNATURE 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 thereunto duly authorized. CYTODYN INC. Date: June 28, 2024 By /s/ Mitchell Cohen Mitchell Cohen Interim Chief Financial Officer