---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-020826"
form_type: "8-K"
ticker: null
cik: "0001544190"
company_name: "Shepherd's Finance, LLC"
filed_at: "2025-11-05T23:59:59+00:00"
generated_at: "2026-05-17T00:16:47.627395+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Shepherd's Finance appoints BDO USA as new auditor after Horne resignation, no disagreements

## Summary
- Horne LLP resigned as Shepherd's Finance auditor on Oct 31, 2025, after its partners and staff joined BDO USA.
- BDO USA appointed as new independent registered public accounting firm on Nov 3, 2025, approved by Audit Committee.
- No adverse opinions or disagreements reported in prior audits for fiscal years 2023 and 2024.
- Horne's resignation was due to a combination transaction, not accounting issues.
- Company provided Horne with the 8-K and Horne agreed; letter filed as Exhibit 16.1.

## SEC filing metadata
- accession: 0001493152-25-020826
- form_type: 8-K
- cik: 0001544190
- company_name: Shepherd's Finance, LLC
- filed_at: 2025-11-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 4.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1544190/000149315225020826/0001493152-25-020826-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1544190/000149315225020826/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-020826
- JSON: https://secwatch.observer/filing/0001493152-25-020826.json
- Plain text: https://secwatch.observer/filing/0001493152-25-020826.txt

## Source-grounded claims
- claim_id: 5a12c26e7d1e8571c84a57e86ab1e0a4a38424bd
  claim: Shepherd's Finance, LLC engaged BDO USA, P.C. as its auditor.
  evidence_excerpt: On November 3, 2025, following the resignation of Horne, the Company, through and with the approval of its Audit Committee, appointed BDO as its independent registered public accounting firm.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1544190/000149315225020826/0001493152-25-020826-index.htm
- claim_id: d28aabd5e9034906a9e74955533f0f8c6fffdb4a
  claim: Horne LLP resigned as auditor of Shepherd's Finance, LLC.
  evidence_excerpt: Horne resigned as the Company’s independent registered public accounting firm on October 31, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1544190/000149315225020826/0001493152-25-020826-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.