other_material
confidence high
sentiment negative
materiality 0.70
Cytta dismisses auditor Prager Metis over disputed fraudulent sales orders; appoints Sadler Gibb
CYTTA CORP.
- Board dismissed Prager Metis CPAs on May 19, 2025 after it required an independent forensic review of third-party consultant sales orders recorded in Dec 31, 2024 quarterly.
- Company-commissioned review found those sales orders were fraudulent/negligent and needed reversal; board chose not to incur additional forensic cost.
- New auditor Sadler, Gibb & Associates appointed June 9, 2025 for FY Sep 30, 2025 audit and Mar 31, 2025 interim period.
- Prager Metis reports for FY2024 and 2023 contained substantial doubt about going concern; no other disagreements except previously reported material weakness.
item 4.01