Business Context and Reporting Period
This Form 6-K filing by Anghami Inc. is dated February 27, 2023. The report discloses 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. The document focuses exclusively on the change of auditors and historical audit opinions.
Material Changes
- Resignation of Auditor: Ernst & Young - Middle East (Abu Dhabi) ("EY") has resigned as the Company's independent accountant.
- Appointment of New Auditor: On January 27, 2023, the Company engaged Grant Thornton Audit and Accounting Limited (Dubai Branch) as the new independent accountant for the fiscal year ended December 31, 2022.
- Historical Audit Opinions: EY's reports for the years ended December 31, 2021, and 2020 did not contain adverse or qualified opinions but included an explanatory paragraph regarding substantial doubt about Anghami's ability to continue as a going concern.
- Disagreements: There were no disagreements between the Company and EY regarding accounting principles, practices, or auditing scope during the relevant periods.
- Reportable Events: No reportable events occurred other than material weaknesses in internal control over financial reporting previously disclosed in the Form 20-F filed on May 13, 2022.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future performance, or new risk factors. The primary risk context provided is the historical "substantial doubt about going concern" noted in prior audit reports and the previously disclosed material weaknesses in internal controls.
Investor Verification Checklist
- Verify the transition timeline and handover status between EY and Grant Thornton.
- Review the Form 20-F filed on May 13, 2022, for details on the material weaknesses in internal control over financial reporting.
- Confirm the Company's current status regarding the "substantial doubt about going concern" noted in prior years.
- Check for any subsequent filings regarding the completion of the 2022 fiscal year audit by Grant Thornton.