DAVE INC. Item 4.01 Changes in Registrant's Certifying Accountant.
(a) Dismissal of Independent Registered Public Accounting Firm
The Audit Committee of the Board of Directors (the "Audit Committee") of
Moss Adams' reports on the Company's consolidated financial statements for the
years ended
During the audit of the Company's
• The Company did not design and maintain certain formal accounting
policies, procedures, and internal controls to achieve complete, accurate
and timely financial accounting, reporting and disclosures, including
internal controls over the period-end financial reporting process
addressing financial statement and footnote presentation and disclosures,
account reconciliations, and journal entries. Additionally, the lack of a
sufficient number of accounting and finance professionals resulted in an
inability to consistently establish appropriate authorities and
responsibilities in pursuit of the Company's financial reporting
objectives, as demonstrated by, amongst other things, insufficient
segregation of duties within the finance and accounting functions.
• The Company did not design and maintain effective controls over
information technology ("IT") general controls for information systems
that are relevant to the preparation of its financial statements,
specifically, with respect to: (i) program change management controls to
ensure that IT program and data changes affecting financial IT
applications and underlying accounting records are identified, tested,
authorized and implemented appropriately; (ii) user access controls to
ensure appropriate segregation of duties and that adequately restrict
user and privileged access to financial applications, programs, and data
to appropriate company personnel: and (iii) computer operations controls
to ensure that critical batch jobs are monitored and data backups are
authorized and monitored.
Despite the material weaknesses, which had not been remediated as of
During the years ended
(i) no disagreements (within the meaning of Item 304(a)(1)(iv) of Regulation
S-K) with Moss Adams on any matter of accounting principles or practices,
financial statement disclosure or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of Moss Adams, would
have caused it to make reference to the subject matter of the
disagreements in its reports on the consolidated financial statements of
the Company; and
(ii) other than the material weaknesses communicated above, no reportable
events (as such term is defined in Item 304(a)(1)(v) of Regulation S-K).
The Company previously provided Moss Adams with a copy of this Form 8-K.
Attached as Exhibit 16.1 is a copy of a letter from Moss Adams dated
(b) Appointment of New Independent Registered Public Accounting Firm
On
During the years ended
(i) the application of accounting principles to a specified transaction,
either completed or proposed, or the type of audit opinion that might be
rendered on the Company's consolidated financial statements, and no
written report or oral advice was provided to the Company that Deloitte
concluded was an important factor considered by the Company in reaching a
decision as to the accounting, auditing or financial reporting issue; or
(ii) any matter that was the subject of a disagreement (within the meaning of
Item 304(a)(1)(iv) of Regulation S-K) or reportable event (within the
meaning of Item 304(a)(1)(v) of Regulation S-K).
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 16.1 Letter from Moss Adams datedJune 13, 2022 104 Cover Page Interactive Data File (formatted as inline XBRL)
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