Ispire Technology reports auditor change and ongoing material weaknesses in internal controls

Ispire Technology Inc.

Marcum LLP resigned as auditor effective Dec 16, 2024; CBIZ CPAs P.C. engaged Dec 17, 2024 for FY 2025.
Marcum's FY 2024 audit report included an explanatory paragraph for the restatement of FY 2023 financials.
Four material weaknesses identified: lack of controls for related-party assets, inventory/credit loss reserves, accounting policies, and insufficient skilled personnel.
No accounting disagreements with Marcum; the weaknesses led to restatements for periods from Dec 2022 through Mar 2024.
Auditor change results from Marcum's attest business asset sale to CBIZ; letter from Marcum filed as Exhibit 16.1.

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