Distribution Solutions Group dismisses BDO, appoints Grant Thornton; BDO had adverse internal control opinion

Distribution Solutions Group, Inc.

Audit Committee dismissed BDO USA as independent auditor on May 19, 2023.
BDO's 2022 report on financials was unqualified, but its internal control opinion was adverse.
Material weaknesses cited: insufficient technical accounting resources at TestEquity related to business combinations, revenue recognition, and segregation of duties.
Grant Thornton LLP, prior auditor of TestEquity, was appointed as new auditor effective May 25, 2023.
No disagreements with BDO; BDO confirmed the disclosure in a letter to the SEC.

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