Business Context and Reporting Period
This Form 6-K filing is for China Internet Nationwide Financial Services Inc., a foreign private issuer, covering the month of March 2019. The report was filed on March 7, 2019. The filing primarily addresses a change in the company's independent registered public accounting firm.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a disclosure of corporate governance changes rather than a financial performance report.
Material Changes
- Dismissal of Previous Auditor: On March 6, 2019, the Company dismissed Marcum Bernstein & Pinchuk LLP as its independent registered public accounting firm.
- Engagement of New Auditor: Effective March 6, 2019, the Company engaged Wei Wei & Co., LLP as its new independent registered public accounting firm.
- Board Approval: The decision to change auditors was approved and ratified by the Board of Directors on March 6, 2019.
Management Commentary and Risks
Disagreements and Reportable Events: The Company stated there were no disagreements with the former auditor (Marcum) regarding accounting principles, financial statement disclosure, or auditing scope during the two most recent fiscal years (ended December 31, 2016 and 2017) or through the date of the report. Additionally, there were no reportable events as defined under Item 304(a)(1)(v) of Regulation S-K.
Consultation with New Auditor: The Company confirmed it did not consult with the new auditor (Wei Wei) regarding the application of accounting principles to specified transactions or matters that were subjects of disagreement or reportable events prior to engagement.
Confirmation: Marcum Bernstein & Pinchuk LLP provided a letter agreeing with the Company's statements regarding the dismissal and lack of disagreements.
Key Facts for Investor Verification
- Verify the qualifications and regulatory standing of the new auditor, Wei Wei & Co., LLP.
- Review the letter from the former auditor, Marcum Bernstein & Pinchuk LLP, filed as Exhibit 99.1, to confirm their agreement with the Company's disclosure.
- Monitor future filings (Form 20-F) to assess the impact of the auditor change on the audit opinion for the fiscal year ending December 31, 2018, and subsequent periods.
- Note that the filing contains no financial data; investors should refer to the most recent Form 20-F for financial performance.