Business Context and Reporting Period
This Form 8-K is a current report filed by Quoin Pharmaceuticals Ltd. (QNRX) on March 18, 2025. The filing discloses a change in the company's independent registered public accounting firm. The company is incorporated in Israel and maintains its principal executive offices in Ashburn, Virginia.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the administrative change of the external auditor.
Material Changes
- Resignation of Prior Auditor: Marcum LLP resigned as the independent registered public accounting firm effective March 18, 2025.
- Appointment of New Auditor: CBIZ CPAs P.C. was engaged to serve as the independent registered public accounting firm for the fiscal year ending December 31, 2025, effective immediately.
- Reason for Change: The change resulted from CBIZ CPAs acquiring the attest business of Marcum LLP on November 1, 2024.
- Audit History: Marcum's reports for the fiscal years ended December 31, 2024, and 2023 contained no adverse opinions, disclaimers, or qualifications.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business operations. Regarding risks and contingencies, the company confirmed there were no disagreements with Marcum LLP on accounting principles, financial statement disclosures, or auditing scope during the two most recent fiscal years and the subsequent interim period. Additionally, no "reportable events" occurred during this timeframe. The company also confirmed it did not consult with CBIZ CPAs regarding accounting principles or audit opinions prior to the engagement.
Investor Verification Checklist
- Verify the transition timeline between Marcum LLP and CBIZ CPAs to ensure no gap in audit coverage.
- Review the attached letter from Marcum LLP (Exhibit 16.1) for any additional context regarding the resignation.
- Confirm the Audit Committee's approval of the new engagement with CBIZ CPAs.
- Monitor future filings for the first audit report issued by CBIZ CPAs for the fiscal year ending December 31, 2025.