Business Context and Reporting Period
This Form 6-K filing by FBS Global Ltd covers the month of August 2025. The report discloses a change in the Company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly informational regarding auditor changes and does not contain financial statement data.
Material Changes
- Auditor Change: On August 19, 2025, the Company appointed NLA DKF Assurance PAC as its new independent auditor, effective August 21, 2025.
- Termination: The former auditor, Marcum Asia CPAs LLP, was terminated on August 19, 2025.
- Reason for Change: The Company states the decision was not due to any disagreement on accounting principles, practices, financial statement disclosure, or auditing scope/procedure.
Outlook, Risks, and Contingencies
Material Weaknesses Identified by Former Auditor: Marcum Asia advised that as of December 31, 2024, three material weaknesses existed:
- Lack of sufficient full-time personnel with appropriate accounting knowledge to monitor daily transactions and address complex U.S. GAAP issues.
- Lack of formal internal control policies and procedures for risk assessment and internal control frameworks.
- Lack of formal IT processes for risk/vulnerability assessment, data backup/recovery, and password management.
Audit Opinions: Marcum Asia's reports for fiscal years ended December 31, 2023, and 2024 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
Consultations: No consultations occurred with the new auditor (NLA) regarding accounting principles or audit opinions prior to their engagement.
Investor Verification Checklist
- Verify the transition plan and timeline for NLA DKF Assurance PAC to address the three material weaknesses identified by Marcum Asia.
- Confirm the status of the letter from Marcum Asia (Exhibit 16.1) to ensure no undisclosed disagreements exist.
- Monitor future filings for updates on the hiring of qualified accounting personnel and implementation of formal IT and internal control policies.
- Review the upcoming Form 20-F to see if the new auditor's initial assessment changes the disclosure of these material weaknesses.