Business Context and Reporting Period
Treasure Global Inc. filed this Form 8-K regarding a change in its independent registered public accounting firm. The reported event occurred on July 3, 2023; the filing was signed July 7, 2023. The company is incorporated in Delaware, trades on Nasdaq under ticker TGL, and is an emerging growth company.
Financial Metrics
This filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other operating or financial metrics.
Material Changes
- The company dismissed Marcum Asia CPAs LLP as its independent registered public accounting firm, effective July 3, 2023.
- Marcum Asia was engaged on December 5, 2022, but did not issue any reports on the company’s financial statements.
- The company engaged WWC, P.C. as its new independent registered public accounting firm, effective July 3, 2023.
- Friedman LLP, which combined with Marcum LLP effective September 1, 2022, had audited the company’s financial statements for the fiscal years ended June 30, 2022 and June 30, 2021.
Management Commentary, Risks, and Unusual Items
The company stated that there were no disagreements with Marcum Asia regarding accounting principles or practices, financial statement disclosure, or audit scope or procedures, and no reportable events during the period from December 5, 2022 through July 3, 2023.
The company stated that it had not consulted WWC during the two most recent fiscal years or through the engagement date regarding accounting principles, potential audit opinions, disagreements, or reportable events. Marcum Asia’s letter dated July 7, 2023 is filed as Exhibit 16.1.
Key Facts to Verify
- Confirm the effective dismissal date of Marcum Asia and engagement date of WWC: July 3, 2023.
- Review Exhibit 16.1 for Marcum Asia’s response to the company’s disclosures.
- Verify whether the change in auditor affected the audit of the fiscal year ending June 30, 2023.
- Note that this filing contains no updated financial statements, guidance, or operating outlook.