ABVC BioPharma dismisses Simon & Edward, engages Kreit & Chiu as auditor
ABVC BioPharma's audit committee approved the dismissal of Simon & Edward, LLP on June 30, 2026, and engaged Kreit & Chiu CPA LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2026. Simon & Edward served as auditor from October 17, 2024, to June 30, 2026, and issued reports on fiscal years 2024 and 2025 that contained an explanatory paragraph regarding the company's ability to continue as a going concern. The company reported no disagreements with the prior auditor on accounting principles, disclosure, or auditing scope, except for previously disclosed material weaknesses in internal control over financial reporting.
Key facts
- Simon & Edward, LLP dismissed June 30, 2026
- Kreit & Chiu CPA LLP engaged as independent registered public accounting firm
- S&E reports for fiscal years ended December 31, 2024 and 2025 contained explanatory paragraph regarding going concern
- No disagreements with S&E on accounting principles, disclosure, or auditing scope through June 30, 2026
- Previously disclosed material weaknesses in internal control over financial reporting
Why it matters
The company's prior auditor qualified its reports with going-concern language for two consecutive years, signaling historical doubt about the company's financial viability; the change to a new auditor occurs against this backdrop of financial distress indicators.
Developing story
- NT 10-Q
- 8-Kthis filing
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Derived from 8-K filed 2026-07-02. Not investment advice. View the source filing on SEC.gov →