Faraday Future Changes Auditors

TL;DR

FFIE swapped auditors from Marcum LLP to Withum+Smith+Brody, PC.

AI Summary

Faraday Future Intelligent Electric Inc. filed an 8-K on April 15, 2024, reporting a change in its certifying accountant as of April 9, 2024. The company previously retained Marcum LLP as its independent registered public accounting firm, but has now appointed Withum+Smith+Brody, PC as its new principal accountant.

Why It Matters

A change in a company's auditor can sometimes signal underlying financial concerns or a desire for a fresh perspective on financial reporting.

Risk Assessment

Risk Level: medium — Changing auditors can sometimes indicate issues with financial reporting or internal controls, warranting closer scrutiny.

Key Players & Entities

• Faraday Future Intelligent Electric Inc. (company) — Registrant
• Marcum LLP (company) — Former Certifying Accountant
• Withum+Smith+Brody, PC (company) — New Certifying Accountant
• April 9, 2024 (date) — Date of earliest event reported
• April 15, 2024 (date) — Date of Report

FAQ

Key Financial Figures

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

Filing Documents

• ea0203918-8k_faraday.htm (8-K) — 42KB
• ea020391801ex16-1_faraday.htm (EX-16.1) — 3KB
• 0001213900-24-032985.txt ( ) — 261KB
• ffie-20240409.xsd (EX-101.SCH) — 4KB
• ffie-20240409_def.xml (EX-101.DEF) — 26KB
• ffie-20240409_lab.xml (EX-101.LAB) — 36KB
• ffie-20240409_pre.xml (EX-101.PRE) — 25KB
• ea0203918-8k_faraday_htm.xml (XML) — 6KB

01 Change in Registrant's Certifying Accountant

Item 4.01 Change in Registrant's Certifying Accountant. On April 9, 2024, Faraday Future Intelligent Electric Inc. (the "Company") was notified that Mazars USA LLP ("Mazars"), the Company's independent registered public accounting firm, will resign as auditor effective with the filing of the Company's Form 10-Q for the quarter ended March 31, 2024, and no later than May 31, 2024. The report of Mazars on the Company's financial statements for the fiscal year ended December 31, 2022, did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principle, but did contain an emphasis of a matter related to substantial doubt about the Company's ability to continue as a going concern. During the fiscal year ended December 31, 2022, there were no disagreements (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and related instructions) between the Company and Mazars on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures which disagreements, if not resolved to the satisfaction of Mazars, would have caused Mazars to make reference thereto in their report on the financial statements for such year. The Company disclosed in its Form 10-K/A for the fiscal year ended December 31, 2022, that it did not maintain effective internal control over financial reporting. The Company provided Mazars with a copy of the disclosures it is making in this Current Report on Form 8-K and requested that Mazars furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements contained herein. A copy of Mazars' letter, dated April 15, 2024, is filed as Exhibit 16.1 to this Current Report on Form 8-K. Item 9.01. Financial Statements and Exhibits (d) Exhibits. The following exhibits are filed with this Current Report on Form 8-K: No. Description of Exhibits 16.1

View Full Filing

View this 8-K filing on SEC EDGAR