Rand Capital Appoints New Auditor
Ticker: RAND · Form: 8-K · Filed: Sep 11, 2025 · CIK: 81955
| Field | Detail |
|---|---|
| Company | Rand Capital Corp (RAND) |
| Form Type | 8-K |
| Filed Date | Sep 11, 2025 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.10 |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
TL;DR
Rand Capital swapped auditors, bringing in Citrin Cooperman after L.R. Wilson resigned.
AI Summary
Rand Capital Corporation filed an 8-K on September 11, 2025, to report changes in its certifying accountant. The company has appointed Citrin Cooperman & Company, LLP as its new independent registered public accounting firm, effective September 10, 2025. This change follows the resignation of the previous auditor, L.R. Wilson & Associates, P.C., on September 9, 2025.
Why It Matters
A change in auditors can signal potential concerns about financial reporting or internal controls, or it could simply be a strategic decision by the company. Investors will monitor future financial statements for any impact.
Risk Assessment
Risk Level: medium — Changes in auditors can sometimes precede or coincide with financial irregularities or restatements, warranting a medium risk assessment until further clarity is provided.
Key Players & Entities
- Rand Capital Corporation (company) — Registrant
- Citrin Cooperman & Company, LLP (company) — New independent registered public accounting firm
- L.R. Wilson & Associates, P.C. (company) — Resigned independent registered public accounting firm
- September 11, 2025 (date) — Report date
- September 10, 2025 (date) — Effective date of new auditor appointment
- September 9, 2025 (date) — Date of previous auditor's resignation
FAQ
Who is Rand Capital Corporation's new independent registered public accounting firm?
Rand Capital Corporation has appointed Citrin Cooperman & Company, LLP as its new independent registered public accounting firm.
When was the appointment of the new auditor effective?
The appointment of Citrin Cooperman & Company, LLP was effective September 10, 2025.
Who was Rand Capital Corporation's previous independent registered public accounting firm?
The previous independent registered public accounting firm for Rand Capital Corporation was L.R. Wilson & Associates, P.C.
When did the previous auditor resign?
L.R. Wilson & Associates, P.C. resigned on September 9, 2025.
What is the filing date of this 8-K report?
This Form 8-K report was filed on September 11, 2025.
Filing Stats: 870 words · 3 min read · ~3 pages · Grade level 14.4 · Accepted 2025-09-11 16:45:08
Key Financial Figures
- $0.10 — nge on which registered Common Stock, $0.10 par value RAND Nasdaq Capital Mark
Filing Documents
- form8-k.htm (8-K) — 42KB
- ex16-1.htm (EX-16.1) — 6KB
- ex16-1_001.jpg (GRAPHIC) — 21KB
- ex16-1_002.jpg (GRAPHIC) — 7KB
- 0001493152-25-013089.txt ( ) — 247KB
- rand-20250911.xsd (EX-101.SCH) — 3KB
- rand-20250911_lab.xml (EX-101.LAB) — 33KB
- rand-20250911_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant. (a) Replacement of Previous Independent Registered Public Accounting Firm On September 11, 2025, the Audit Committee (the "Audit Committee") of the Board of Directors (the "Board") of Rand Capital Corporation (the "Company") and the Board each approved the replacement of Freed Maxick, P.C. ("FM") as the Company's independent registered public accounting firm, due to the acquisition of certain assets of FM by Withum Smith+Brown, PC ("Withum"), effective immediately, and informed FM of such replacement on the date thereof (the "Replacement"). The audit reports of FM on the consolidated financial statements of the Company as of and for the years ended December 31, 2023 and 2024 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles. During the Company's fiscal years ended December 31, 2023 and 2024, and the subsequent interim period through September 11, 2025, (i) there were no "disagreements," as defined in Item 304(a)(1)(iv) of Regulation S-K, with FM 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 FM, would have caused FM to make reference to the subject matter of the disagreement(s) in connection with its reports on the Company's consolidated financial statements for such period, and (ii) there were no "reportable events," as defined in Item 304(a)(1)(v) of Regulation S-K. The Company provided FM with a copy of the disclosures in this Current Report on Form 8-K and requested that FM furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the Company's statements herein. A copy of such letter, which is dated September 11, 2025, is filed as Exhibit 16.1 to this Current Report on Form 8-K. (b) Appointment of Ne
(a)(1)(v) of Regulation S-K
Item 304(a)(1)(v) of Regulation S-K.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description of Exhibit 16.1 Letter of Freed Maxick, P.C., dated September 11, 2025. 104 Cover Page Interactive Data File (the cover page XBRL tags are 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. RAND CAPITAL CORPORATION Date: September 11, 2025 By: /s/ Margaret Brechtel Name: Margaret Brechtel Title: Chief Financial Officer