---
schema_version: "secwatch.filing_event.v1"
accession: "0001715768-23-000056"
form_type: "8-K"
ticker: null
cik: "0001715768"
company_name: "Transphorm, Inc."
filed_at: "2023-07-06T23:59:59+00:00"
generated_at: "2026-06-13T11:58:58.789257+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Transphorm dismisses Marcum, hires KPMG as auditor; prior report had going concern doubt

## Summary
- Audit committee dismissed Marcum LLP and engaged KPMG LLP as independent auditor, effective June 29, 2023.
- Marcum's FY23 audit report included an explanatory paragraph expressing substantial doubt about Transphorm's ability to continue as a going concern.
- No disagreements or reportable events with Marcum, except previously disclosed material weakness in internal controls.
- Material weakness relates to insufficient finance staffing, impacting inventory, joint venture accounting, revenue, and other areas.

## SEC filing metadata
- accession: 0001715768-23-000056
- form_type: 8-K
- cik: 0001715768
- company_name: Transphorm, Inc.
- filed_at: 2023-07-06T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 4.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1715768/000171576823000056/0001715768-23-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1715768/000171576823000056/tgan-20230629.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001715768-23-000056
- JSON: https://secwatch.observer/filing/0001715768-23-000056.json
- Plain text: https://secwatch.observer/filing/0001715768-23-000056.txt

## Key facts
- Auditor Changes
  Transphorm, Inc. dismissed Marcum LLP as its auditor.
  - Action: dismissal
  - Auditor: Marcum LLP
  - Successor: KPMG LLP
  source text: (a) Dismissal of Independent Registered Public Accounting Firm On June 29, 2023, the Audit Committee of the Board of Directors (the “Audit Committee”) of Transphorm, Inc. (the “Company”) dismissed Marcum LLP (“Marcum”) as the Company’s independent registered public accounting firm.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1715768/000171576823000056/0001715768-23-000056-index.htm
- Auditor Changes
  Transphorm, Inc. engaged KPMG LLP as its auditor.
  - Action: engagement
  - Auditor: KPMG LLP
  source text: (b) Engagement of Independent Registered Public Accounting Firm Also on June 29, 2023, following a competitive request-for-proposal process, the Audit Committee approved the engagement of KPMG LLP (“KPMG”) as the Company’s independent registered public accounting firm for the fiscal year ending March 31, 2024, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1715768/000171576823000056/0001715768-23-000056-index.htm

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