Ispire Technology dismisses CBIZ CPAs, appoints Marcum Asia as new auditor

Ispire Technology Inc.

On Feb 18, 2025, Ispire Technology's Audit Committee dismissed CBIZ CPAs P.C. effective immediately and appointed Marcum Asia CPAs LLP as auditor for FY ending June 30, 2025.
No disagreements with CBIZ CPAs occurred, but material weaknesses in internal control over financial reporting were disclosed in the Q2 FY2025 10-Q.
Weaknesses included lack of controls to record assets from controlling stockholder, insufficient inventory reserve and credit loss evaluation, and inadequate accounting personnel.
CBIZ CPAs had been appointed only on December 17, 2024, and did not issue any report on the company's financial statements.

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