Jerash Holdings (US), Inc. current report, 20 September 2022

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Business Context and Reporting Period

This Form 8-K is a current report filed by Jerash Holdings (US), Inc. (JRSH) on September 20, 2022. The filing addresses a change in the Company's certifying accountant effective September 1, 2022, following the combination of Friedman LLP with Marcum LLP.

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 corporate governance regarding the audit firm transition.

Material Changes

  • Accountant Transition: Friedman LLP combined with Marcum LLP and now operates as a wholly-owned subsidiary of Marcum.
  • New Engagement: On September 20, 2022, the Audit Committee approved the engagement of Marcum LLP to serve as the independent registered public accounting firm, replacing Friedman LLP.
  • Historical Audit Status: Friedman's reports for fiscal years ended March 31, 2022, and 2021 contained no adverse opinions, disclaimers, or qualifications.
  • No Disagreements: There were no disagreements with Friedman regarding accounting principles, practices, or audit scope during the two most recent fiscal years or through September 20, 2022.
  • No Reportable Events: No "reportable events" as defined in Regulation S-K Item 304(a)(1)(v) occurred during the relevant periods.

Guidance, Outlook, and Risks

The filing does not contain financial guidance, outlook, or management commentary on business operations. It confirms that the Company did not consult Marcum regarding any matters or reportable events set forth in Regulation S-K Item 304(a)(2)(i) and (ii) prior to the engagement.

Investor Verification Checklist

  • Verify the transition timeline and effective date of Marcum LLP's engagement (September 1, 2022).
  • Review the attached letter from Friedman LLP (Exhibit 16.1) to confirm their agreement with the disclosure statements.
  • Confirm that no undisclosed disagreements or reportable events existed with the former auditor.
  • Monitor future filings for the first financial statements audited by Marcum LLP.