PAID, Inc. Appoints New Auditor, EisnerAmper LLP
Ticker: PAYD · Form: 8-K · Filed: Jun 17, 2024 · CIK: 1017655
| Field | Detail |
|---|---|
| Company | Paid Inc (PAYD) |
| Form Type | 8-K |
| Filed Date | Jun 17, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
Related Tickers: PAID
TL;DR
PAID, Inc. swapped auditors from CohnReznick to EisnerAmper, effective immediately.
AI Summary
On June 14, 2024, PAID, Inc. filed an 8-K report to disclose a change in its certifying accountant. The company has dismissed its previous independent registered public accounting firm, CohnReznick LLP, and has appointed EisnerAmper LLP as its new principal accountant. This change is effective immediately.
Why It Matters
A change in auditors can sometimes signal underlying issues or a strategic shift within a company, and investors will be watching to see how this impacts financial reporting and oversight.
Risk Assessment
Risk Level: medium — Changes in auditors can sometimes precede or coincide with financial irregularities or significant business changes, warranting closer investor scrutiny.
Key Players & Entities
- PAID, Inc. (company) — Registrant
- CohnReznick LLP (company) — Former certifying accountant
- EisnerAmper LLP (company) — New certifying accountant
- June 14, 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 June 14, 2024.
Who was PAID, Inc.'s former independent registered public accounting firm?
PAID, Inc.'s former independent registered public accounting firm was CohnReznick LLP.
Who is PAID, Inc.'s new principal accountant?
PAID, Inc. has appointed EisnerAmper LLP as its new principal accountant.
What form was filed to report this change?
This change was reported via a Form 8-K filing.
Did the company have any disagreements with its former accountant?
The filing does not state any disagreements between PAID, Inc. and CohnReznick LLP.
Filing Stats: 915 words · 4 min read · ~3 pages · Grade level 13.6 · Accepted 2024-06-17 17:28:40
Filing Documents
- payd20240617_8k.htm (8-K) — 30KB
- ex_689205.htm (EX-16.1) — 3KB
- 0001437749-24-020539.txt ( ) — 160KB
- payd-20240614.xsd (EX-101.SCH) — 3KB
- payd-20240614_def.xml (EX-101.DEF) — 11KB
- payd-20240614_lab.xml (EX-101.LAB) — 14KB
- payd-20240614_pre.xml (EX-101.PRE) — 11KB
- payd20240617_8k_htm.xml (XML) — 3KB
01. Changes in Registrant ' s Certifying Accountant
Item 4.01. Changes in Registrant ' s Certifying Accountant. (a) On May 20, 2024, the partners and professional staff of KMJ Corbin & Company LLP ("KMJ"), which was engaged as the independent registered public accounting firm of Paid, Inc. (the "Company"), joined Crowe LLP. As a result, KMJ resigned as the Company's independent registered public accounting firm on June 14, 2024. The reports of KMJ on the Company's consolidated financial statements for the two most recently completed fiscal years ended December 31, 2023 and 2022 did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles. During the Company's two most recently completed fiscal years ended December 31, 2023 and 2022 and the subsequent interim period through the date of resignation, there were no disagreements between the Company and KMJ on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of KMJ, would have caused KMJ to make reference to the subject matter of the disagreements in connection with its audit reports on the Company's consolidated financial statements. During the Company's two most recently completed fiscal years ended December 31, 2023 and 2022 and the subsequent interim period through the date of resignation, there were no "reportable events" (as defined in Item 304(a)(1)(v) of Regulation S-K), except as reported in Part II, Item 9A of the Company's Annual Reports on Form 10-K for the fiscal years ended December 31, 2023 and 2022, the Company reported material weaknesses in its internal control over financial reporting during such periods due to inadequate entity level and activity level controls. The Company provided KMJ with a copy of this report on Form 8-K in accordance with Item 304(a) of Regulation S-K prior to its filing with the Securities and Exchange Commission
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits 16.1 Letter from KMJ Corbin & Company LLP dated June 17, 2024 re: change in certifying accountant 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 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 hereunto duly authorized. PAID, INC. Date: June 17, 2024 By: /s/ W. Austin Lewis, IV W. Austin Lewis, IV, CEO, CFO Exhibit Index Exhibit Number Description 16.1 Letter from KMJ Corbin & Company LLP dated June 17, 2024 re: change in certifying accountant