CPI AEROSTRUCTURES INC (CVU): auditor change — CPI Aerostructures restates 2022 deferred tax balances; files late 10-K notice

CPI AEROSTRUCTURES INC

Deferred tax asset and liability each overstated by $2.6M due to inadequate review of temporary differences.
No material impact on previously reported net income, EPS, or cash flow for FY2022.
Files Form 12b-25 for delayed 2023 10-K; expects to file by April 16, 2024.
Material weakness identified; remediation underway.

item 4.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

CPI AEROSTRUCTURES INC reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: RSM US LLP

Exact text from the filing

On April 3, 2024, the audit and finance committee (the “Audit and Finance Committee”) of the board of directors of CPI Aerostructures, Inc. (the “Company”), determined, based on the recommendation of management, that the Company’s financial statements which were included in its Annual Report on Form 10-K for the year ended December 31, 2022 as filed with the Securities and Exchange Commission (the “SEC”) should no longer be relied upon due to errors within Note 11 “Income Taxes”

View on SEC.gov

49 auditor changes filed in the last 30 days. Browse all auditor changes →

CPI AEROSTRUCTURES INC filing history →

Source: SEC EDGAR

accession 0001999371-24-004426

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.