other material
confidence high
sentiment neutral
materiality 0.55
LifeMD replaces auditor Marcum with CBIZ; cites material weaknesses in internal controls
LifeMD, Inc.
- Marcum LLP resigned as independent auditor on April 24, 2025; CBIZ CPAs P.C. appointed same day.
- Prior reports for FY2024 and FY2023 were unqualified with no disagreements on accounting principles.
- Reportable events: material weaknesses in ITGCs (user access, change management, SOC report review) and business process controls (IPE and review procedures).
- CBIZ had acquired Marcum's attest business on November 1, 2024, prompting the transition.
- No consultations with CBIZ prior to engagement on accounting or auditing matters.