DUO WORLD INC: auditor change — Duo World restates FY2023 audited financials; auditor CNGSN not registered with PCAOB

DUO WORLD INC

Auditor CNGSN & Associates was not registered with PCAOB despite stating otherwise; board concluded FY2023 financials cannot be relied upon.
CNGSN's audit opinion dated July 6, 2023, contained false statements about PCAOB registration; company terminated CNGSN.
New PCAOB-registered auditor M.N. Vijay Kumar engaged to re-audit FY2023 financial statements; re-audit is underway.
The company must amend its Form 10-K to replace the invalid audit report with a new one from PCAOB-registered firm.
CNGSN sent a letter responding to disclosures; the letter is filed as Exhibit 7 to this 8-K/A.

item 4.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

DUO WORLD INC engaged M.N. Vijay Kumar, Chartered Accountant as its auditor.

Action: engagement
Auditor: M.N. Vijay Kumar, Chartered Accountant

Exact text from the filing

We have subsequently engaged M.N. Vijay Kumar, Chartered Accountant, Bangalore, India, as our new PCAOB registered certifying accountant

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Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

DUO WORLD INC engaged CNGSN & Associates LLP as its auditor.

Action: engagement
Auditor: CNGSN & Associates LLP

Exact text from the filing

the Company engaged CNGSN & Associates LLP, Bengaluru, India ("CNGSN"), to serve as our new independent registered public accounting firm, effective May 16, 2023

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Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

DUO WORLD INC reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: CNGSN & Associates LLP

Exact text from the filing

he fiscal year ended March 31, 2023 should no longer be relied on due to the fact that CNGSN was not registered with the PCAOB.

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Source: SEC EDGAR

accession 0001493152-23-031600

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