other material
confidence high
sentiment negative
materiality 0.70
ProPhase Labs auditor Morison Cogen resigns due to exit from PCAOB audit business
ProPhase Labs, Inc.
- Morison Cogen resigned as independent auditor effective September 30, 2024, because it decided to exit the PCAOB audit market.
- No disagreements with Morison on accounting principles, financial disclosure, or audit scope during 2022, 2023, and through resignation.
- Prior adverse opinion on internal control over financial reporting in 2023 10-K and material weaknesses disclosed in 2024 quarterly reports.
- Company expects to announce engagement of a new independent registered public accounting firm in the near future.