FGI Industries Ltd. (FGI): auditor change — FGI Industries auditor Marcum resigns; CBIZ appointed; material weaknesses disclosed

FGI Industries Ltd.

Marcum LLP resigned as FGI's independent auditor effective April 22, 2025; CBIZ CPAs P.C. engaged same day.
No disagreements with Marcum on accounting principles or audit scope during 2023-2024 or through resignation.
Material weaknesses identified: inadequate segregation of duties for journal entries; insufficient management review of account reconciliations and loan covenant calculations.
Marcum provided a letter agreeing with the statements in the 8-K, filed as Exhibit 16.1.

item 4.01 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

Marcum LLP resigned as auditor of FGI Industries Ltd..

Action: resignation
Auditor: Marcum LLP
Successor: CBIZ CPAs P.C.

Exact text from the filing

(a) Resignation of Independent Registered Public Accounting Firm. On November 1, 2024, CBIZ CPAs P.C. (“CBIZ”) acquired the attest business of Marcum LLP (“Marcum”). On April 22, 2025, FGI Industries Ltd. (the “Company”) was notified by Marcum that it was resigning as the Company’s independent registered public accounting firm.

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

FGI Industries Ltd. engaged CBIZ CPAs P.C. as its auditor.

Action: engagement
Auditor: CBIZ CPAs P.C.

Exact text from the filing

On April 22, 2025, the Audit Committee of the Company’s Board of Directors approved the engagement of CBIZ as the Company’s independent registered public accounting firm.

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FGI Industries Ltd. filing history →

Source: SEC EDGAR

accession 0001628280-25-019368

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