DXP replaces auditor with PwC; discloses new material weakness in revenue recognition

DXP ENTERPRISES INC

Appointed PwC as independent auditor for FY 2022, dismissing McConnell Jones after 2021 audit completes.
New material weakness as of Dec 31, 2021: insufficient controls over complex revenue contracts using percentage-of-completion.
Prior material weaknesses (business combos, journal entries) remediated; aged AP weakness still being addressed.
2021 audit ongoing; McConnell Jones report type unknown; no disagreements reported.
Company expects no adverse opinion except for material weaknesses disclosed.

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