[6-K] EPWK Holdings Ltd. Current Report (Foreign Issuer)
Rhea-AI Filing Summary
EPWK Holdings Ltd. has replaced its independent registered public accounting firm, appointing Assentsure PAC effective
WWC’s audit reports on EPWK’s financial statements for the fiscal years ended
The company states there were no disagreements or reportable events with WWC over accounting principles, financial disclosure, or audit procedures. WWC had identified material weaknesses in internal control related to limited U.S. GAAP/SEC reporting expertise and insufficient financial reporting policies, and EPWK reports it is implementing measures to address them. EPWK also notes it did not consult Assentsure on accounting or audit issues before the new engagement, and WWC has provided a confirming letter to the SEC as an exhibit.
Positive
- None.
Negative
- None.
Insights
EPWK changes auditors amid existing going concern and control weaknesses.
EPWK Holdings Ltd. has shifted its independent auditor role from WWC to Assentsure PAC, with WWC’s engagement ending on
WWC’s prior audit opinions on the fiscal years ended
EPWK states it did not consult Assentsure on specific accounting treatments or audit opinions before the new appointment. The existence of a going concern explanatory paragraph and internal control material weaknesses highlights elevated financial reporting and liquidity risk, while the auditor change adds another governance development for investors to consider alongside future audited financial statements.
FAQ
What auditor change did EPWK (ticker: EPWK) announce in this Form 6-K?
EPWK Holdings Ltd. reported that its audit committee approved changing its independent registered public accounting firm from WWC, Professional Corporation to Assentsure PAC. WWC’s engagement ended on
Did EPWK report any disagreements with its former auditor WWC?
EPWK states that during the fiscal years ended
What going concern disclosure affects EPWK’s financial statements?
WWC’s reports on EPWK’s financial statements for the years ended
What internal control material weaknesses has EPWK disclosed?
WWC identified material weaknesses in EPWK’s internal control over financial reporting, including insufficient accounting and financial reporting personnel with U.S. GAAP and SEC reporting expertise and a lack of financial reporting policies and procedures commensurate with those requirements. EPWK states it is implementing measures to address these weaknesses.
Did EPWK consult Assentsure before appointing it as auditor?
EPWK reports that during the two most recent fiscal years and through
What additional document related to the auditor change did EPWK provide?
EPWK furnished a letter from WWC, Professional Corporation, dated