AuditorSep 25, 2026, 05:13 PM
Sadot Group Dismisses Auditor Amidst Internal Control Weakness
AI Summary
Sadot Group Inc. has dismissed its independent registered public accounting firm, Kreit & Chiu CPA LLP, effective immediately. This follows a failure by stockholders to ratify the firm's appointment for the upcoming fiscal year. The company also disclosed a material weakness in internal controls that remains unaddressed. Sadot Group has appointed CT International LLP as its new independent auditor.
Key Highlights
- Sadot Group Inc. dismissed Kreit & Chiu CPA LLP as its independent registered public accounting firm.
- The dismissal was approved by the Audit Committee on September 22, 2026.
- Stockholders did not ratify the appointment of Kreit & Chiu for the fiscal year ending December 31, 2026.
- Kreit & Chiu's report for fiscal year ended Dec 31, 2025, included an explanatory paragraph regarding substantial doubt about the Company's ability to continue as a going concern.
- A material weakness in internal control over financial reporting, due to insufficient staffing and limited financial resources, has not been fully remediated.
- CT International LLP has been engaged as the new independent registered public accounting firm.
- CT International will audit the Company's consolidated financial statements for the fiscal year ending December 31, 2026.
Price Impact
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