READING INTERNATIONAL INC (RDI): auditor change — Reading International restates Q2, Q3 2024 financials due to $3.6M liability error; cites material weakness

READING INTERNATIONAL INC

Restating unaudited financials for Q2 and Q3 2024 due to $3.6M misstatement in accounts payable and accrued expenses.
Material weakness in internal control over financial reporting identified for those periods.
Prior evaluations of disclosure controls and procedures for Q2 and Q3 2024 should no longer be relied upon.
Company will amend Form 10-Qs for Q2 and Q3 2024 with restated financials and MD&A.
Audit Committee and management discussed matters with independent auditor Grant Thornton.

item 4.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

READING INTERNATIONAL INC reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

Company”), after discussion with management of the Company, concluded that the interim unaudited consolidated financial statements for the quarterly periods ended June 30, 2024 and September 30, 2024 (collectively, the “Restated Periods”) included in its Quarterly Reports on Form 10-Q for the corresponding periods (collectively, the “Prior Filings”) should no longer be relied upon. The Restatement corrects a $3.6 million misstatement which relates to the incorrect measurement and removal from the financial statements for the Restated Periods of an accounts payable and accrued expenses liability.

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Source: SEC EDGAR

accession 0000716634-25-000002

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