other material
confidence high
sentiment negative
materiality 0.75
CytoDyn auditor Warren Averett resigns; MGO appointed as new auditor
CytoDyn Inc.
- Warren Averett resigned as CytoDyn's independent auditor effective April 13, 2022; audit committee did not recommend change.
- Audit committee appointed Macias Gini & O'Connell LLP (MGO) as new auditor on April 18, 2022, subject to client acceptance.
- Prior audit reports for FY2020 and FY2021 included a going concern qualification; no disagreements with Warren Averett.
- Material weakness in internal controls reported for Nov 30, 2021, related to errors in additional paid-in capital and non-cash interest.
- Warren Averett provided letter to SEC agreeing with CytoDyn's statements in this 8-K.