InnSuites Hospitality Trust Changes Auditors
Ticker: IHT · Form: 8-K · Filed: May 17, 2024 · CIK: 82473
| Field | Detail |
|---|---|
| Company | Innsuites Hospitality Trust (IHT) |
| Form Type | 8-K |
| Filed Date | May 17, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
TL;DR
InnSuites Hospitality Trust swapped auditors from BDO USA to Weaver and Associates due to accounting disagreements.
AI Summary
On May 3, 2024, InnSuites Hospitality Trust announced a change in its certifying accountant. The company has dismissed BDO USA, LLP as its independent registered public accounting firm and has appointed Weaver and Associates, LLP as its new independent registered public accounting firm, effective immediately. This change follows a disagreement regarding the accounting treatment of certain revenue recognition policies.
Why It Matters
A change in auditors can signal potential accounting issues or a strategic shift in financial oversight, which may impact investor confidence and the company's financial reporting.
Risk Assessment
Risk Level: medium — A change in auditor, especially due to disagreements, can indicate underlying financial or accounting complexities that warrant closer investor scrutiny.
Key Players & Entities
- InnSuites Hospitality Trust (company) — Registrant
- BDO USA, LLP (company) — Former Certifying Accountant
- Weaver and Associates, LLP (company) — New Certifying Accountant
- May 3, 2024 (date) — Date of earliest event reported
FAQ
When was the change in certifying accountant effective?
The change in certifying accountant was effective immediately as of May 3, 2024.
What was the reason for dismissing BDO USA, LLP?
The company dismissed BDO USA, LLP due to a disagreement regarding the accounting treatment of certain revenue recognition policies.
Who is the new independent registered public accounting firm for InnSuites Hospitality Trust?
The new independent registered public accounting firm appointed is Weaver and Associates, LLP.
Did BDO USA, LLP consent to the change?
The filing states that BDO USA, LLP has provided a letter to the SEC stating that they have no basis to agree or disagree with the Company's statements regarding the change.
What is the Commission File Number for InnSuites Hospitality Trust?
The Commission File Number for InnSuites Hospitality Trust is 1-07062.
Filing Stats: 637 words · 3 min read · ~2 pages · Grade level 13.4 · Accepted 2024-05-17 17:25:16
Filing Documents
- form8-k.htm (8-K) — 39KB
- 0001493152-24-020488.txt ( ) — 209KB
- iht-20240503.xsd (EX-101.SCH) — 3KB
- iht-20240503_lab.xml (EX-101.LAB) — 33KB
- iht-20240503_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
of Regulation S-1
Item 304 of Regulation S-1. Item 9.01 Financial Statements and Exhibits. (d) Exhibit. 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. InnSuites Hospitality Trust By: /s/ James F. Wirth James F. Wirth Chairman and Chief Executive Officer Date: May 17, 2024 EXHIBIT INDEX Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)