other material
confidence high
sentiment neutral
materiality 0.60
GROWLIFE, INC.: auditor change — GrowLife auditor MGO declines re-appointment; M&K CPAS PLLC hired for FY2023
GROWLIFE, INC.
- MGO notified GrowLife on Nov 29, 2023 it will not stand for re-appointment as auditor, effective Dec 31, 2023.
- No disagreements on accounting principles; material weaknesses in internal controls reported for 2021, 2022, and Q1 2023.
- Weaknesses relate to audit committee composition and accounting personnel capabilities for complex contracts.
- Audit committee approved engagement of M&K CPAS PLLC on Dec 5, 2023 to audit 2023 financial statements.
- M&K had no prior consultations with the company on accounting matters or disagreements.