Siebert Financial Appoints New Auditor, CohnReznick LLP

TL;DR

Siebert Financial swapped auditors from EisnerAmper to CohnReznick, effective May 13, 2024.

AI Summary

Siebert Financial Corp. announced on May 13, 2024, that it has appointed a new independent registered public accounting firm, CohnReznick LLP, to audit its financial statements for the fiscal year ending December 31, 2024. This change follows the resignation of their previous auditor, EisnerAmper LLP, effective May 10, 2024. The company stated there were no disagreements with EisnerAmper LLP.

Why It Matters

A change in auditors can signal potential issues or a desire for a fresh perspective on financial reporting, which investors should monitor.

Risk Assessment

Risk Level: low — The filing is a routine change of auditor and does not indicate any immediate financial distress or significant operational changes.

Key Players & Entities

• Siebert Financial Corp. (company) — Registrant
• CohnReznick LLP (company) — Newly appointed independent registered public accounting firm
• EisnerAmper LLP (company) — Resigned independent registered public accounting firm
• May 13, 2024 (date) — Date of appointment of new auditor
• May 10, 2024 (date) — Date of resignation of previous auditor

FAQ

Key Financial Figures

• $0.01 — ge on which registered Common Stock - $0.01 par value SIEB The Nasdaq Capital M

Filing Documents

• ea0206328-8k_siebert.htm (8-K) — 34KB
• ea020632801ex16-1_siebert.htm (EX-16.1) — 2KB
• 0001213900-24-044368.txt ( ) — 207KB
• sieb-20240513.xsd (EX-101.SCH) — 3KB
• sieb-20240513_lab.xml (EX-101.LAB) — 33KB
• sieb-20240513_pre.xml (EX-101.PRE) — 22KB
• ea0206328-8k_siebert_htm.xml (XML) — 3KB

01. Changes in Registrant's Certifying Accountant

Item 4.01. Changes in Registrant's Certifying Accountant On May 13, 2024, Siebert Financial Corp. (the "Company") finalized discussions with its independent registered public accounting firm, Baker Tilly US, LLP ("Baker Tilly), that it was resigning its engagement with the Company upon completion of Baker Tilly's review of the Company's financial Baker Tilly's report on the Company's financial statements for the fiscal years ended December 31, 2023 and 2022 contained no adverse opinion or 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 2022 and the subsequent interim period through May 13, 2024, there were no "disagreements" (within the meaning of Item 304(a) of Regulation S-K) with Baker Tilly on any matter of accounting principles or practices, financial caused it to make reference to the subject matter of the disagreement in connection with its reports on the financial statements of the Company. During the same periods, there were no "reportable events" (as such term is defined in Item 304(a)(1)(v) of Regulation S-K), other than the material weakness related to the Company not designing and maintaining user access controls to ensure appropriate segregation of duties and adequate restricted user and privileged access to financial applications, data and programs to the appropriate personnel, as previously reported in the Company's Form 10-K for the year ended December 31, 2023. The Audit Committee has authorized Baker Tilly to respond fully to the inquiries of the Company's successor auditor. The Company has provided Baker Tilly with a copy of the disclosures it

Forward-Looking Statements

Forward-Looking Statements. For purposes of this Current Report on Form 8-K ("Report"), the terms "Siebert," "Company," "we," "us" and "our" refer to Siebert Financial Corp., its wholly-owned and majority-owned subsidiaries collectively, unless the context otherwise requires. The "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking the words "may," "could," "would," "should," "believe," "expect," "anticipate," "plan," "estimate," "target," "project," "intend" and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements, which reflect our beliefs, objectives, and expectations as of the date hereof, are based on the best judgment of management. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including the following: economic, social and political conditions, global economic downturns resulting from extraordinary events; securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting our business; net capital requirements; extensive regulation, regulatory un

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits. The following exhibits are filed with this Report: Exhibit Number Description 16.1 Letter from Baker Tilly US, LLP to the Securities and Exchange Commission, dated May 16, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1

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 thereunto duly authorized. Dated: May 16, 2024 SIEBERT FINANCIAL CORP. By /s/ John J. Gebbia John J. Gebbia Chief Executive Officer (Principal executive officer) By /s/ Andrew H. Reich Andrew H. Reich Executive Vice President, Chief Operating Officer, Chief Financial Officer, and Secretary (Principal financial and accounting officer) 2

View Full Filing

View this 8-K filing on SEC EDGAR