YXT.com Group Holding Limited Announces Change of Auditor
YXT.com Group Holding announced the appointment of Marcum Asia CPAs LLP as its new independent registered public accounting firm, effective October 31, 2024. This change replaces PricewaterhouseCoopers Zhong Tian LLP (PwC), following approval from the company's audit committee and board of directors. The decision was not due to any disagreements on accounting principles, financial statements, or auditing procedures. PwC's audit reports for fiscal years 2022 and 2023 contained no adverse opinions or modifications. Marcum Asia will audit the company's consolidated financial statements for the fiscal year ending December 31, 2024.
YXT.com Group Holding ha annunciato la nomina di Marcum Asia CPAs LLP come nuovo studio di contabilità pubblico indipendente registrato, a partire dal 31 ottobre 2024. Questo cambiamento sostituisce PricewaterhouseCoopers Zhong Tian LLP (PwC), dopo l'approvazione da parte del comitato di revisione e del consiglio di amministrazione dell'azienda. La decisione non è stata causata da disaccordi riguardo ai principi contabili, ai bilanci o alle procedure di revisione. I rapporti di revisione di PwC per gli esercizi fiscali 2022 e 2023 non contenevano opinioni avverse o modifiche. Marcum Asia effettuerà la revisione dei bilanci consolidati dell'azienda per l'esercizio che si chiude il 31 dicembre 2024.
YXT.com Group Holding anunció el nombramiento de Marcum Asia CPAs LLP como su nueva firma de contabilidad pública independiente registrada, con efecto a partir del 31 de octubre de 2024. Este cambio reemplaza a PricewaterhouseCoopers Zhong Tian LLP (PwC), tras la aprobación del comité de auditoría y de la junta directiva de la empresa. La decisión no se debió a desacuerdos sobre principios contables, estados financieros o procedimientos de auditoría. Los informes de auditoría de PwC para los años fiscales 2022 y 2023 no contenían opiniones adversas ni modificaciones. Marcum Asia auditará los estados financieros consolidados de la empresa para el año fiscal que finaliza el 31 de diciembre de 2024.
YXT.com Group Holding 은 Marcum Asia CPAs LLP를 새로운 독립 등록 공인 회계법인으로 임명했다고 발표했으며, 2024년 10월 31일부터 효력이 발생한다. 이번 변경은 PricewaterhouseCoopers Zhong Tian LLP (PwC)를 대체하며, 회사의 감사위원회 및 이사회 승인에 따라 이루어졌다. 이 결정은 회계 원칙, 재무제표 또는 감사 절차에 대한 의견 차이 때문에 이루어진 것이 아니다. PwC의 2022 및 2023 회계연도 감사 보고서에는 불리한 의견이나 수정 사항이 포함되어 있지 않았다. Marcum Asia는 2024년 12월 31일로 종료되는 회계연도에 대한 회사의 연결 재무제표를 감사할 예정이다.
YXT.com Group Holding a annoncé la nomination de Marcum Asia CPAs LLP en tant que nouveau cabinet d'expertise comptable public indépendant enregistré, prenant effet le 31 octobre 2024. Ce changement remplace PricewaterhouseCoopers Zhong Tian LLP (PwC), suite à l'approbation du comité d'audit et du conseil d'administration de l'entreprise. La décision n'était pas due à des désaccords sur les principes comptables, les états financiers ou les procédures d'audit. Les rapports d'audit de PwC pour les exercices fiscaux 2022 et 2023 ne contenaient aucune opinion défavorable ni modifications. Marcum Asia auditera les états financiers consolidés de l'entreprise pour l'exercice se terminant le 31 décembre 2024.
YXT.com Group Holding gab die Ernennung von Marcum Asia CPAs LLP als neues unabhängiges registriertes öffentliches Wirtschaftsprüfungsunternehmen bekannt, das am 31. Oktober 2024 wirksam wird. Diese Änderung ersetzt PricewaterhouseCoopers Zhong Tian LLP (PwC), nach Genehmigung durch den Prüfungsausschuss und den Vorstand des Unternehmens. Die Entscheidung beruhte nicht auf Meinungsverschiedenheiten über Rechnungslegungsgrundsätze, Finanzberichte oder Prüfverfahren. Die Prüfungsberichte von PwC für die Geschäftsjahre 2022 und 2023 enthielten keine negativen Meinungen oder Änderungen. Marcum Asia wird die konsolidierten Finanzberichte des Unternehmens für das zum 31. Dezember 2024 endende Geschäftsjahr prüfen.
- Clean audit reports from PwC for fiscal years 2022 and 2023 with no adverse opinions or modifications
- Smooth transition of auditors with no disagreements on accounting principles or practices
- Change of auditor from a Big Four firm (PwC) to a smaller firm (Marcum Asia) might raise concerns among investors
Insights
The switch from PwC to Marcum Asia as auditor raises concerns about cost management and potential market perception. While the company states there were no disagreements or adverse opinions, changing from a Big Four firm to a smaller auditor often signals cost-cutting measures or desire for less scrutiny. This transition could impact investor confidence, particularly given YXT's relatively small market cap of
SUZHOU, China, Oct. 31, 2024 (GLOBE NEWSWIRE) -- YXT.com Group Holding Limited (“YXT.com” or the “Company”), a leader and disruptor of the digital corporate learning industry in China, today announced the appointment of Marcum Asia CPAs LLP (“Marcum Asia”) as the Company's independent registered public accounting firm, effective on October 31, 2024.
Marcum Asia succeeds PricewaterhouseCoopers Zhong Tian LLP (“PwC”), which was previously the independent auditor providing audit services to the Company. The change of the Company's independent auditor was made after careful consideration and an evaluation process by the Company and has been recommended by the audit committee of the board of directors of the Company and approved by the board of directors of the Company. The decision to change auditor was not as a result of any disagreement between the Company and PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures.
Marcum Asia is engaged to audit and report on the consolidated financial statements of the Company for the fiscal year ending December 31, 2024. The audit reports issued by PwC on the Company’s consolidated financial statements for the fiscal years ended December 31, 2022 and 2023 did not contain any adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles.
The Company would like to take this opportunity to express its sincere gratitude to the PwC team for their professionalism and quality of services rendered to the Company over the past years.
About YXT.com
As a technology company, YXT.com provides corporations with digital corporate learning solutions, including SaaS platforms, learning content, and other services. YXT.com is a leader and disruptor of the digital corporate learning industry in China. Established in 2011, YXT.com has supported Fortune 500 companies and other leading companies with their transformation and digitalization of learning and development, and has received recognition, respect and recurring business.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to”, or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Contact
Robin Yang
ICR, LLC
YXT.IR@icrinc.com
+1 (646) 405-4883
FAQ
Who is YXT.com's new auditor as of October 31, 2024?
Why did YXT.com (YXT) change its auditor from PwC?
Were there any issues with YXT.com's previous audit reports from PwC?
