Aurelion Inc. current report, Q4 FY2023

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Business Context and Reporting Period

This Form 6-K was filed by Prestige Wealth Inc., not Aurelion Inc., for the month of October 2023. The report was signed on November 2, 2023. Prestige Wealth Inc. is a foreign private issuer filing annual reports on Form 20-F.

Financial Metrics

The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other operating and financial metrics.

Material Changes

  • On October 30, 2023, the audit committee dismissed Marcum Asia CPAs LLP as the company’s independent registered public accounting firm.
  • On October 31, 2023, the company engaged Yu Certified Public Accountant, P.C. to audit its consolidated financial statements for the fiscal year ended September 30, 2023.
  • The filing states that MarcumAsia issued no adverse opinions or qualifications and had no disagreements with the company regarding accounting principles, disclosures, or audit scope during the relevant periods.
  • The company stated that it had not consulted Yu regarding accounting principles, potential audit opinions, disagreements, or reportable events before the engagement.

Management Commentary, Risks, and Unusual Items

  • The company disclosed material weaknesses involving insufficient accounting staff and U.S. GAAP and SEC reporting expertise, inadequate documented financial closing policies and procedures, and a lack of independent directors and an audit committee.
  • MarcumAsia provided a letter dated November 2, 2023 to the SEC regarding the change in accountants; the letter is filed as Exhibit 16.1.
  • No financial guidance or business outlook was included.

Key Facts to Verify

  • Confirm the filing subject: the source document identifies the registrant as Prestige Wealth Inc., while the request metadata identifies Aurelion Inc.
  • Review Exhibit 16.1 for MarcumAsia’s response to the dismissal.
  • Verify the appointment and audit scope of Yu Certified Public Accountant, P.C. for the fiscal year ended September 30, 2023.
  • Assess whether the disclosed material weaknesses were remediated and whether they could affect the reliability or timing of future SEC filings.