Perma-Pipe International Holdings, Inc. (PPIH): auditor change — Perma-Pipe restating Q2 FY2024 results due to accounting errors; prior filings no longer reliable

Perma-Pipe International Holdings, Inc.

Audit Committee non-reliance on unaudited financials for six months ended July 31, 2024 due to duplicate invoice and intercompany errors.
Duplicate invoice overstated PP&E and accounts payable by $1.4M in Middle East subsidiary.
Intercompany errors: trade receivables overstated $0.4M, cash flow misstatements of $0.4-$0.5M.
Existing material weaknesses in internal control to be expanded; Form 10-Q/A to be filed.

item 4.02

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.95

Perma-Pipe International Holdings, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

ent and the Company's independent registered public accounting firm, concluded that the Company's unaudited consolidated financial statements in its Quarterly Report on Form 10-Q for the six m onths ended July 31, 2024, should no longer be relied upon due to the aggregate impact of certain errors as described below and should be restated. As a result, the Company will correct these errors by filing an amended Quarterly Report on Form 10-Q (the "Form 10-Q/A"), as soon as practicable.

View on SEC.gov

19 auditor changes filed in the last 30 days. Browse all auditor changes →

Perma-Pipe International Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-038156

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.