other material
confidence high
sentiment negative
materiality 0.60
Fuse Group dismisses auditor Paris Kreit; engages KCCW; cites material weaknesses in internal controls
FUSE GROUP HOLDING INC.
- Dismissed Paris, Kreit & Chiu CPA LLP on April 5, 2022; engaged KCCW Accountancy Corp. as new independent auditor.
- Audit reports for fiscal year ended September 30, 2021 contained a going concern uncertainty.
- Material weaknesses in internal controls: no audit committee, insufficient IT controls, lack of qualified accounting personnel.
- No prior disagreements with Paris Kreit; material weaknesses remain unremediated as of April 7, 2022.