secwatch.observer — SEC 8-K summary
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Issuer:     ThredUp Inc. (TDUP)
CIK:        0001484778
Form:       8-K
Filed at:   2022-09-06T23:59:59+00:00
Accession:  0001484778-22-000156
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 4.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ThredUp dismisses KPMG, appoints Deloitte; material weaknesses previously reported
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- Deloitte appointed as new independent auditor effective Sept 4, 2022, replacing KPMG after competitive process.
- No disagreements between company and KPMG on accounting matters during FY2020-2021 or interim 2022.
- KPMG's reports for FY2020 and FY2021 were unqualified except for adoption of ASC 842 lease accounting.
- Material weaknesses reported: ineffective IT controls over financial systems and lack of segregation over reconciliations and journal entries.
- KPMG agreed with statements in filing; letter to SEC attached as Exhibit 16.1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1484778/000148477822000156/0001484778-22-000156-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1484778/000148477822000156/tdup-20220904.htm
  HTML page:      https://secwatch.observer/filing/0001484778-22-000156

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