Business Context and Reporting Period
This Form 6-K filing by Lead Real Estate Co., Ltd. (the "Company") is dated August 16, 2024, and covers the month of August 2024. The filing serves to disclose a change in the Company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly informational regarding the auditor change and does not contain financial statement data.
Material Changes
- Auditor Appointment: On May 31, 2024, the Board of Directors appointed Marcum Asia CPAs LLP ("Marcum Asia") as the new independent registered public accounting firm. The appointment became effective on July 22, 2024.
- Auditor Dismissal: BF Borgers CPA PC ("BF Borgers"), the former auditor, was dismissed on June 10, 2024. BF Borgers had served the Company since 2022.
- Reason for Change: The decision was made after careful consideration and evaluation. The Company explicitly states there were no disagreements with BF Borgers regarding accounting principles, financial statement disclosure, or auditing scope.
- Prior Audit Opinions: BF Borgers' audit reports for fiscal years ended June 30, 2023, and 2022, were unqualified and did not contain adverse opinions, disclaimers, or modifications regarding uncertainty or scope.
- Reportable Events: No "reportable events" occurred during the engagement with BF Borgers, except for material weaknesses previously reported by management in the Company's annual Form 20-F.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or management commentary on future performance. Regarding risks and contingencies:
- Consultations: The Company confirms it did not consult Marcum Asia regarding accounting principles or audit opinions prior to the engagement.
- Former Auditor Status: BF Borgers is no longer permitted to appear or practice before the SEC; consequently, no letter from BF Borgers is included in this filing.
Investor Verification Checklist
- Verify the effective date of the new auditor (Marcum Asia) is July 22, 2024.
- Confirm the absence of disagreements with the former auditor (BF Borgers) regarding accounting or auditing matters.
- Review the Company's most recent Form 20-F for details on the "material weaknesses" in internal controls previously disclosed.
- Note that BF Borgers is currently barred from practicing before the SEC.