other material
confidence high
sentiment negative
materiality 0.70
Skinvisible changes auditor; Prager Metis declines reappointment over internal control issues
SKINVISIBLE, INC.
- Prager Metis CPAs declined reappointment as auditor on Jan 7, 2022; Gries and Associates engaged Jan 12, 2022.
- Former auditor's 2020 and 2019 reports included going concern uncertainty but no adverse opinions.
- Reportable event: management determined internal controls over financial reporting were ineffective as of Dec 31, 2020, not remediated.
- No disagreements on accounting principles or practices during 2020, 2019, and interim period through Jan 7, 2022.
- Board approved new auditor; no prior consultation with Gries and Associates on accounting matters.