other_material
confidence high
sentiment negative
materiality 0.65
Moog dismisses EY as auditor; material weakness in internal controls over commercial aircraft contracts
MOOG INC.
- EY dismissed as independent auditor effective Nov 26, 2025 after completing FY2025 audit.
- EY's audit reports for FY2024 and FY2025 were unqualified for financial statements.
- EY issued adverse opinion on internal controls for FY2025 due to material weakness in controls over long-term aftermarket service revenue contracts in Commercial Aircraft segment.
- KPMG engaged as new auditor for fiscal year ending Oct 3, 2026, starting with Q1 FY2026 review.
- No disagreements between Company and EY on accounting principles or practices during the period.