DoubleDown Interactive Announces Change in Independent Registered Public Accounting Firm
DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) announced the engagement of Samil PricewaterhouseCoopers (PwC) as its independent registered public accounting firm for the fiscal year ending December 31, 2023. This change follows a mandatory requirement due to the auditing rules applicable to its controlling shareholder, DoubleU Games Co., Ltd. (DUG), which has also appointed PwC as its auditor. The transition from Ernst & Young LLP (EY) will be finalized after EY completes its audit of DoubleDown's 2022 financial statements. DoubleDown specializes in digital gaming, offering interactive casino experiences globally.
- Engagement of PwC enhances credibility by aligning with the external auditor of its controlling shareholder.
- Transition is based on regulatory compliance, ensuring adherence to audit standards.
- Change in auditors may create short-term uncertainty among investors.
- Termination of EY could indicate potential operational disruptions during the transition period.
SEATTLE, Feb. 21, 2023 (GLOBE NEWSWIRE) -- DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) (“DoubleDown” or the “Company”), a leading gaming company, delivering unique player experiences across a variety of genres, today announced that it has engaged Samil PricewaterhouseCoopers (“PwC”) as its independent registered public accounting firm for the fiscal year ending December 31, 2023, replacing Ernst & Young LLP (“EY”).
This decision was made in reference to the change in external auditor of DoubleU Games Co., Ltd., a Korean company and the controlling shareholder of the Company (“DUG”), which was mandated by the Act on External Audit of Stock Companies of Korea and the related regulations thereunder (collectively, the “Act”). Pursuant to the Act, the Securities and Futures Commission of the Financial Services Commission of Korea has appointed PwC as the external auditor of DUG for the fiscal year ending December 31, 2023. As such, the Company has determined that it would be in the best interest of the Company to engage the same auditor as its independent registered public accounting firm.
The termination of EY’s services will become effective upon the completion of EY’s audit of the Company’s financial statements for the fiscal year ended December 31, 2022 and the filing of the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2022 with the U.S. Securities and Exchange Commission.
About DoubleDown Interactive
DoubleDown Interactive Co., Ltd. is a leading developer and publisher of digital games on mobile and web-based platforms. It is the creator of multi-format interactive entertainment experiences for casual players, bringing authentic Vegas entertainment to players around the world through an online social casino experience. DoubleDown’s flagship title, DoubleDown Casino, has been a fan-favorite game on leading social and mobile platforms for years, entertaining millions of players worldwide with a lineup of classic and modern games.
Company Contact:
Joe Sigrist
ir@doubledown.com
+1 (206) 773-2266
Chief Financial Officer
https://www.doubledowninteractive.com
Investor Relations Contact:
Cody Slach or Jeff Grampp, CFA
Gateway Group
1-949-574-3860
DDI@gatewayir.com
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