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dynaCERT Engages HDCPA Professional Corporation as Auditor
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Rhea-AI Summary
dynaCERT Inc. announced the appointment of HDCPA Professional Corporation as its new auditor, succeeding BDO Canada LLP, who resigned on August 5, 2022. The change has been approved by the audit committee and board of directors. HDCPA specializes in ESG and EPR services, aligning with dynaCERT's focus on innovative carbon and hydrogen markets. dynaCERT manufactures technology for carbon emission reduction, enhancing fuel efficiency for various diesel engines.
Positive
Appointment of HDCPA provides specialized expertise in ESG and EPR.
HDCPA's experience in the trucking and automotive sectors adds value.
Transition approved by audit committee and board ensures governance continuity.
Negative
BDO resigned without cited reportable events, raising potential concerns.
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TORONTO--(BUSINESS WIRE)--
dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ)("dynaCERT" or the "Company") is pleased to announce that HDCPA Professional Corporation (“HDCPA”) has been retained by the Company to be its auditor.
Harpreet Dhawan, CPA, CA, Director and principal auditor of HDCPA stated, “HDCPA is a CPA firm with offices in Toronto and Mississauga and serving organizations across Canada and the US. HDCPA partners with other firms and professionals that share similar values and qualifications and is a member of AMERISERV, a network of independent firms. HDCPA’s Core Values are the pillars upon which our business has been established and each and every professional stands by them every step of the way: Integrity, Commitment, Excellence, and Collaboration. HDCPA is licensed with CPA Ontario as a public accounting firm authorized to perform assurance engagements and is also registered with the Canadian Public Accountability Board (CPAB). The firm has a team that understands the environmental stewardship and technology sector and have developed a niche in delivering assurance engagements in this sector for over a decade.”
Jeff Zajac, director of dynaCERT and Chair of the Audit Committee stated, “dynaCERT required very unique added value services, given our presence in innovative new markets and in the Carbon and Hydrogen markets. During our new auditor search, we identified the firm of HDCPA Professional Corporation as having expertise in two areas that are very specific to our Company. Their first-hand experience within both the Trucking Industry and the Automotive Manufacturing space gave us the peace of mind of having an auditor who would understand our business and provide added value within the audit process for years to come. What impressed the Audit Committee the most was their niche market expertise in the fields of ESG (Environmental, Social and Governance) as well as EPR (Extended Producer Responsibility), which are key value-added services that dynaCERT will most certainly need for the future. dynaCERT believes that HDCPA’s unique boutique firm nature will be an excellent match and bring added value to the audit process, in our modern-day world.”
HDCPA will take over from BDO Canada LLP ("BDO"), who resigned as the Company's auditors on their own initiative on August 5, 2022. The resignation of BDO and the appointment of HDCPA have been reviewed and approved by dynaCERT’s audit committee and the board of directors as a whole. BDO previously confirmed that there are no reportable events, "disagreements" or "unresolved issues" (as those terms are defined in National Instrument 51-102 – Continuous Disclosure Obligations) in connection with the change of auditor.
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed for the tracking of possible future Carbon Credits for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, which has shown to lower carbon emissions and improve fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment. Website: www.dynaCERT.com.
READER ADVISORY
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, information relating to HDCPA Professional Corporationcannot be independently verified. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of the release.
