other material
confidence high
sentiment neutral
materiality 0.60
Innovative Designs dismisses auditor RW Group; CEO acted without board approval
INNOVATIVE DESIGNS INC
- CEO Joseph Riccelli dismissed RW Group as independent auditor on June 3, 2024; board did not recommend or approve.
- RW Group's FY 2022 and 2023 audit reports included a going-concern explanatory paragraph but no adverse opinion.
- No disagreements or reportable events occurred during FY 2022, 2023, or through January 31, 2024.
- RW Group provided a letter agreeing with the 8-K statements, filed as Exhibit 16.1.