Medallion Financial Changes Auditors
Ticker: MBNKO · Form: 8-K · Filed: Apr 10, 2024 · CIK: 1000209
| Field | Detail |
|---|---|
| Company | Medallion Financial Corp (MBNKO) |
| Form Type | 8-K |
| Filed Date | Apr 10, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
Related Tickers: MFIN
TL;DR
MFIN swapped auditors, citing no disagreements. New firm is Citrin Cooperman.
AI Summary
Medallion Financial Corp. announced on April 4, 2024, that it has appointed a new independent registered public accounting firm, Citrin Cooperman & Company, LLP, effective immediately. This change follows the resignation of the company's former auditor, EisnerAmper LLP, on April 3, 2024. The company stated that the decision to change auditors was not a result of any disagreements with EisnerAmper LLP.
Why It Matters
A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors will monitor.
Risk Assessment
Risk Level: low — The filing is a routine change of auditors and does not indicate any immediate financial distress or significant operational changes.
Key Players & Entities
- Medallion Financial Corp. (company) — Registrant
- Citrin Cooperman & Company, LLP (company) — New independent registered public accounting firm
- EisnerAmper LLP (company) — Former independent registered public accounting firm
- April 4, 2024 (date) — Effective date of auditor change
- April 3, 2024 (date) — Date of former auditor's resignation
FAQ
When did Medallion Financial Corp. appoint Citrin Cooperman & Company, LLP as its new independent registered public accounting firm?
Medallion Financial Corp. appointed Citrin Cooperman & Company, LLP as its new independent registered public accounting firm effective April 4, 2024.
Who was Medallion Financial Corp.'s previous independent registered public accounting firm?
Medallion Financial Corp.'s previous independent registered public accounting firm was EisnerAmper LLP.
When did EisnerAmper LLP resign as Medallion Financial Corp.'s auditor?
EisnerAmper LLP resigned as Medallion Financial Corp.'s auditor on April 3, 2024.
Were there any disagreements between Medallion Financial Corp. and EisnerAmper LLP that led to the change in auditors?
No, Medallion Financial Corp. stated that the decision to change auditors was not a result of any disagreements with EisnerAmper LLP.
What is the principal business address of Medallion Financial Corp.?
The principal executive offices of Medallion Financial Corp. are located at 437 Madison Avenue, 38th Floor, New York, New York 10022.
Filing Stats: 742 words · 3 min read · ~2 pages · Grade level 14.1 · Accepted 2024-04-10 16:05:11
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share MFIN NASDAQ Global Select
Filing Documents
- mfin-20240404.htm (8-K) — 39KB
- mfin-ex16_1.htm (EX-16.1) — 5KB
- 0000950170-24-043346.txt ( ) — 163KB
- mfin-20240404.xsd (EX-101.SCH) — 30KB
- mfin-20240404_htm.xml (XML) — 5KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant. On April 4, 2024, Medallion Financial Corp. (the "Company") was notified by its independent registered public accounting firm, Mazars USA LLP ("Mazars"), of its decision to resign as the Company's independent registered public accounting firm effective with the filing of the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 and no later than May 31, 2024. Mazars's reports on the Company's consolidated financial statements as of December 31, 2023 and December 31, 2022 and for each of the years in the three-year period ended December 31, 2023 and the effectiveness of internal control over financial reporting as of December 31, 2023 did not contain any adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. During the fiscal years ended December 31, 2023 and December 31, 2022 and the subsequent interim periods through the date of this Form 8-K, there were: (i) no disagreements (within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and Mazars on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of Mazars, would have caused it to make reference thereto in its reports; and (ii) no reportable events within the meaning of Item 304(a)(1)(v) of Regulation S-K and the related instructions. The Company provided Mazars with a copy of this Current Report on Form 8-K prior to its filing with the Securities and Exchange Commission and requested that Mazars furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not Mazars agrees with the statements made herein and, if not, stating the respects in which it does not agree. The Company has received the requested letter from Mazars wherein Mazars has confir
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits The following exhibits are being filed with this Current Report on Form 8-K: 16.1 Letter from Mazars USA LLP to the Securities and Exchange Commission dated April 10, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: April 10, 2024 MEDALLION FINANCIAL CORP. By: /s/ Anthony N. Cutrone Name: Anthony N. Cutrone Title: Chief Financial Officer 3