Item 4.01 Changes in Registrant's Certifying Accountant
On September 20, 2022, Network CN Inc. ("the Company") dismissed its independent
auditor, Centurion ZD CPA & Co. ("Centurion"), effective immediately which had
been engaged on February 21, 2022. The dismissal was due to the on-going travel
restrictions in China resulting from the worldwide COVID-19 pandemic and the
resulting lack of access to some of the Company's records requested in Shanghai,
China, it is uncertain when Centurion would be able to complete the audit. As of
the date of the dismissal, Centurion had not issued audit report on the
financial statements of the Company with regard to fiscal year ended December
31, 2021.
Centurion has not rendered any reports on any of the Company's financial
statements. Therefore, Centurion has neither provided any adverse opinion or
qualifications on the Company's financial statements nor had a disagreement with
the Company since the engagement on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedures,
which disagreements that, if not resolved to Centurion's satisfaction, would
have caused Centurion to make reference to the subject matter of the
disagreement in connection with the audit of the Company's financial statements.
None of the reportable events of the type set forth in paragraphs (A) through
(D) of Item 304(a)(1)(v) of Regulation S-K occurred within period of the
engagement of Centurion up to the date of dismissal.
The Company has provided Centurion a copy of this disclosure and has requested
that Centurion furnishes it with a letter addressed to the Securities and
Exchange Commission stating whether or not Centurion agrees with the statements
made by the Company herein in response to Item 304(a) of Regulation S-K. and, if
not, stating the respect in which it does not agree. A copy of the letter dated
October 7, 2022, furnished by Centurion in response to that request is filed as
Exhibit 16.1 to this Form 8-K/A.
Engagement of New Independent Registered Public Accounting Firm
Concurrent with Centurion's departure as the Company's independent auditor, on
September 20, 2022, the Board of Directors of the Company approved the
appointment of Gries & Associates, LLC ("Gries") as the Company's independent
auditor, effective immediately.
During the Company's two most recent fiscal years ended December 31, 2020 and
2019 and through Gries's appointment on September 20, 2022, neither the Company
nor anyone acting on its behalf consult Gries with respect to (i) the
application of accounting principles to a specified transaction, either
completed or proposed, or the type of audit opinion that may be rendered on the
Company's financial statements, and Gries did not provide either a written
report or oral advice to the Company that was an important factor considered by
the Company in reaching a decision as to any accounting, auditing, or financial
reporting issue; or (ii) any matter that was the subject of a disagreement or
any reportable events as defined and set forth in Item 304(a)(1)(iv) and (v),
respectively, of Regulation S-K.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits
Exhibit Description
16.1 Letter from Centurion ZD CPA & Co., dated October 7, 2022
101 Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in
Inline XBRL (Inline eXtensible Business Reporting Language).
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document and included in Exhibit 101).
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