CareCloud Announces Potential Resignation of its Audit Firm
CareCloud (Nasdaq: CCLD), an AI-driven healthcare technology solutions provider, announced that its current independent registered public accounting firm may resign if the company requires an Internal Control over Financial Reporting (ICFR) attestation for fiscal year 2025.
The requirement for ICFR attestation will be determined by CareCloud's public float as of June 30, 2025. If it reaches or exceeds $75 million, the company will be classified as an accelerated filer, necessitating the attestation under Section 404(b) of the Sarbanes-Oxley Act. The current audit firm has stated it lacks capacity for ICFR attestation, which would require CareCloud to engage a new accounting firm as SEC rules mandate the same firm conduct both financial statement audit and ICFR attestation.
CareCloud (Nasdaq: CCLD), fornitore di soluzioni tecnologiche sanitarie basate sull'intelligenza artificiale, ha annunciato che il suo attuale revisore contabile indipendente registrato potrebbe dimettersi qualora la società fosse tenuta a fornire una certificazione sul Controllo Interno sulla Rendicontazione Finanziaria (ICFR) per l'esercizio fiscale 2025.
La necessità della certificazione ICFR sarà determinata dal flottante pubblico di CareCloud al 30 giugno 2025. Se questo raggiungerà o supererà i 75 milioni di dollari, la società sarà classificata come "accelerated filer", rendendo obbligatoria la certificazione ai sensi della Sezione 404(b) del Sarbanes-Oxley Act. L'attuale società di revisione ha dichiarato di non avere la capacità di fornire la certificazione ICFR, il che obbligherebbe CareCloud ad assumere un nuovo studio contabile, poiché le regole della SEC richiedono che la stessa società esegua sia la revisione del bilancio che la certificazione ICFR.
CareCloud (Nasdaq: CCLD), proveedor de soluciones tecnológicas de salud impulsadas por inteligencia artificial, anunció que su firma independiente de contabilidad pública registrada actual podría renunciar si la empresa requiere una certificación de Control Interno sobre Reportes Financieros (ICFR) para el año fiscal 2025.
La necesidad de la certificación ICFR se determinará según el flotante público de CareCloud al 30 de junio de 2025. Si alcanza o supera los 75 millones de dólares, la empresa será clasificada como "accelerated filer", lo que exige la certificación conforme a la Sección 404(b) de la Ley Sarbanes-Oxley. La firma auditora actual ha declarado que no cuenta con la capacidad para proporcionar la certificación ICFR, lo que obligaría a CareCloud a contratar una nueva firma contable, ya que las normas de la SEC requieren que la misma firma realice tanto la auditoría de estados financieros como la certificación ICFR.
CareCloud (나스닥: CCLD)는 AI 기반 의료 기술 솔루션 제공업체로서, 2025 회계연도에 내부재무보고통제(ICFR) 인증이 요구될 경우 현재 독립 등록 공인회계법인이 사임할 수 있다고 발표했습니다.
ICFR 인증 필요 여부는 2025년 6월 30일 기준 CareCloud의 공공 유통 주식 수에 따라 결정됩니다. 만약 7,500만 달러 이상일 경우, 회사는 가속 신고자(accelerated filer)로 분류되어 Sarbanes-Oxley 법 제404(b)조에 따른 인증이 필요합니다. 현재 감사법인은 ICFR 인증을 제공할 역량이 없다고 밝혔으며, 이는 SEC 규정에 따라 동일 회계법인이 재무제표 감사와 ICFR 인증을 모두 수행해야 하므로 CareCloud가 새로운 회계법인을 선임해야 함을 의미합니다.
CareCloud (Nasdaq : CCLD), fournisseur de solutions technologiques de santé basées sur l'intelligence artificielle, a annoncé que son cabinet d'audit indépendant actuel pourrait démissionner si la société devait fournir une attestation sur le Contrôle Interne sur le Reporting Financier (ICFR) pour l'exercice fiscal 2025.
La nécessité de cette attestation ICFR sera déterminée par la capitalisation flottante publique de CareCloud au 30 juin 2025. Si elle atteint ou dépasse 75 millions de dollars, l'entreprise sera classée comme "accelerated filer", ce qui rendra obligatoire l'attestation conformément à la Section 404(b) de la loi Sarbanes-Oxley. Le cabinet d'audit actuel a indiqué qu'il ne dispose pas de la capacité pour fournir cette attestation ICFR, ce qui obligerait CareCloud à engager un nouveau cabinet d'expertise comptable, car les règles de la SEC exigent que le même cabinet réalise à la fois l'audit des états financiers et l'attestation ICFR.
CareCloud (Nasdaq: CCLD), ein Anbieter von KI-gesteuerten Gesundheitstechnologielösungen, gab bekannt, dass seine derzeitige unabhängige registrierte Wirtschaftsprüfungsgesellschaft zurücktreten könnte, falls das Unternehmen für das Geschäftsjahr 2025 eine Bestätigung der internen Kontrolle über die Finanzberichterstattung (ICFR) benötigt.
Die Notwendigkeit der ICFR-Bestätigung wird anhand des Streubesitzes von CareCloud zum 30. Juni 2025 bestimmt. Wenn dieser 75 Millionen US-Dollar erreicht oder überschreitet, wird das Unternehmen als „accelerated filer“ eingestuft, was die Bestätigung gemäß Abschnitt 404(b) des Sarbanes-Oxley Act erforderlich macht. Die aktuelle Prüfungsgesellschaft hat erklärt, dass sie nicht über die Kapazitäten für eine ICFR-Bestätigung verfügt, was CareCloud dazu zwingen würde, eine neue Wirtschaftsprüfungsgesellschaft zu beauftragen, da die SEC-Vorschriften verlangen, dass dieselbe Firma sowohl die Abschlussprüfung als auch die ICFR-Bestätigung durchführt.
- Proactive disclosure of potential audit firm changes
- Company maintains compliance awareness with SEC regulations
- Potential disruption in audit services if current firm resigns
- Risk of additional costs and complexity in transitioning to a new audit firm
- Possible indication of company growth leading to increased regulatory requirements
SOMERSET, N.J., June 26, 2025 (GLOBE NEWSWIRE) -- CareCloud, Inc. (Nasdaq: CCLD, CCLDO) (“CareCloud” or the “Company”), a leader in AI-driven healthcare technology solutions for medical practices and health systems nationwide, today announced that its current independent registered public accounting firm may resign if an ICFR auditor attestation of the Company’s Internal Control over Financial Reporting (“ICFR”) under Section 404(b) of the Sarbanes-Oxley Act is required for fiscal year 2025.
Our audit firm has informed the Company that it does not have the capacity to perform an ICFR attestation. Under SEC rules, the same audit firm must conduct both the financial statement audit and the ICFR attestation. Therefore, if an ICFR attestation becomes necessary, the audit firm would be unable to fulfill the full scope of the required audit services, and CareCloud would need to engage a new independent registered public accounting firm.
The requirement for an ICFR attestation will be determined based on CareCloud’s public float amount as of the close of trading on June 30, 2025. If the public float equals or exceeds
CareCloud will provide an update on July 1, 2025, following the determination of its public float and any resulting impact on its audit arrangements.
About CareCloud
CareCloud (Nasdaq: CCLD, CCLDO) brings disciplined innovation to the business of healthcare. Our suite of AI and technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health, at carecloud.com.
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For additional information, please visit our website at carecloud.com. To listen to video presentations by CareCloud’s management team, read recent press releases and view the latest investor presentation, please visit ir.carecloud.com.
Disclaimer
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Forward-Looking Statements
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The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
SOURCE: CareCloud
Company Contact:
Norman Roth
Interim Chief Financial Officer and Corporate Controller
CareCloud, Inc.
nroth@carecloud.com
Investor Contact:
Stephen Snyder
Co-Chief Executive Officer
CareCloud, Inc.
ir@carecloud.com
FAQ
Why might CareCloud (CCLD) need to change its audit firm in 2025?
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