Stagwell Inc (STGW): auditor change — Stagwell dismisses Deloitte as auditor, appoints PwC citing cost reduction

Stagwell Inc

Deloitte & Touche dismissed as independent auditor; PricewaterhouseCoopers engaged effective March 16, 2023.
Auditor switch driven by cost reduction objective; Deloitte's reports for 2021 and 2022 were unqualified except for adverse opinion on internal controls.
No reportable disagreements on accounting principles; material weaknesses in internal controls continue, including IT access, segregation of duties, and monitoring.
Material weaknesses cover risk assessment, control activities, information/communication, and monitoring; not yet remediated.

item 4.01 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

Stagwell Inc engaged PricewaterhouseCoopers LLP as its auditor.

Action: engagement
Auditor: PricewaterhouseCoopers LLP

Exact text from the filing

On March 16, 2023, the Company engaged PwC to serve as the Company’s independent registered public accounting firm, effective immediately.

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

Stagwell Inc dismissed Deloitte & Touche LLP as its auditor.

Action: dismissal
Auditor: Deloitte & Touche LLP
Successor: PricewaterhouseCoopers LLP

Exact text from the filing

notified Deloitte & Touche LLP (“ Deloitte ”) of its dismissal as the Company’s independent registered public accounting firm effective as of that date.

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Source: SEC EDGAR

accession 0001104659-23-035158

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