Millennium Group Dismisses Auditor WWC, P.C. on Jan 5, 2024
Ticker: MGIH · Form: 6-K · Filed: Jan 11, 2024 · CIK: 1903995
| Field | Detail |
|---|---|
| Company | Millennium Group International Holdings Ltd (MGIH) |
| Form Type | 6-K |
| Filed Date | Jan 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: auditor-change, corporate-governance, 6-K
TL;DR
**Millennium Group just fired their auditor, WWC, P.C., but claims no disagreements.**
AI Summary
Millennium Group International Holdings Ltd. (001-41673) announced on January 5, 2024, that they dismissed their independent registered public accounting firm, WWC, P.C. This change was approved by the Audit Committee and Board of Directors, and the company stated there were no disagreements with WWC, P.C. regarding accounting principles or audit scope for the fiscal years ended June 30, 2023, and 2022. This matters to investors because a change in auditors, even without stated disagreements, can sometimes signal underlying issues or a desire for a fresh perspective, potentially impacting investor confidence.
Why It Matters
A change in a company's auditor can sometimes be a red flag for investors, even if no disagreements are reported, as it might suggest a desire for a less scrutinizing audit or a fresh start.
Risk Assessment
Risk Level: medium — While no disagreements were reported, a change in auditors always introduces a degree of uncertainty and warrants closer scrutiny by investors.
Analyst Insight
A smart investor would monitor future filings for the announcement of a new auditor and review their first audit report closely for any changes in accounting practices or disclosures, despite the company's claim of no disagreements.
Key Numbers
- 001-41673 — Commission File Number (identifies Millennium Group International Holdings Limited with the SEC)
- January 2024 — Month of Report (indicates the period this 6-K filing covers)
Key Players & Entities
- Millennium Group International Holdings Limited (company) — the registrant filing the 6-K
- WWC, P.C. (company) — the previous independent registered public accounting firm
- January 5, 2024 (date) — date of auditor dismissal
- June 30, 2023 (date) — end of most recent fiscal year audited by WWC, P.C.
- June 30, 2022 (date) — end of prior fiscal year audited by WWC, P.C.
- Audit Committee (company) — approved the change in auditor
- Board of Directors (company) — approved the change in auditor
Forward-Looking Statements
- Millennium Group will appoint a new auditor within the next 3-6 months. (Millennium Group International Holdings Limited) — medium confidence, target: 2024-07-11
- The company's next financial statements will be audited by a different firm. (Millennium Group International Holdings Limited) — high confidence, target: 2024-12-31
FAQ
What was the specific date Millennium Group International Holdings Limited notified WWC, P.C. of their dismissal?
Millennium Group International Holdings Limited notified WWC, P.C. of their dismissal on January 5, 2024, as stated in the filing.
Did WWC, P.C.'s reports for the fiscal years ended June 30, 2023, and 2022 contain any adverse opinions or disclaimers?
No, the filing explicitly states that the reports of WWC, P.C. for the fiscal years ended June 30, 2023, and 2022 did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified.
Who recommended and approved the decision to change the independent registered public accounting firm?
The decision to change the independent registered public accounting firm was recommended and approved by both the Audit Committee and the Board of Directors of Millennium Group International Holdings Limited.
Were there any disagreements between Millennium Group International Holdings Limited and WWC, P.C. regarding accounting principles or audit scope?
According to the filing, during the most recent fiscal year ended June 30, 2023, and through January 5, 2024, there were no disagreements with WWC, P.C. on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
What type of annual reports does Millennium Group International Holdings Limited file with the SEC?
Millennium Group International Holdings Limited files annual reports under cover of Form 20-F, as indicated by the checkmark in the filing.
Filing Stats: 666 words · 3 min read · ~2 pages · Grade level 11.3 · Accepted 2024-01-11 16:30:04
Filing Documents
- ea191238-6k_millennium.htm (6-K) — 19KB
- ea191238ex16-1_millennium.htm (EX-16.1) — 5KB
- ex16-1_001.jpg (GRAPHIC) — 8KB
- ex16-1_002.jpg (GRAPHIC) — 33KB
- 0001213900-24-002999.txt ( ) — 81KB
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. Millennium Group International Holdings Limited Dated: January 11, 2024 By: /s/ Ming Hung Lai Name: Ming Hung Lai Title: Chairman 3