B. Riley Financial Inc. Reports Material Weaknesses in Internal Controls Over Financial Reporting

Reuters
2025/09/13
<a href="https://laohu8.com/S/RILYG">B. Riley Financial Inc</a>. Reports Material Weaknesses in Internal Controls Over Financial Reporting

B. Riley Financial Inc. announced on September 8, 2025, that it has dismissed Marcum LLP, its previous independent registered public accounting firm, effective after the completion of Marcum's audit for the fiscal year ending December 31, 2024. This decision was made by the Audit Committee of B. Riley's Board of Directors. While Marcum's audit reports for the fiscal years 2023 and 2022 did not contain any adverse opinions, they did identify material weaknesses in the company's internal control over financial reporting. The issues highlighted included ineffective information technology general controls in a subsidiary, inadequate precision in management's review controls over level 3 investment valuations, and deficiencies in the identification and disclosure of material related party transactions. Despite these findings, there were no disagreements between B. Riley and Marcum regarding accounting principles, financial disclosure, or auditing procedures during the relevant periods.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. B. Riley Financial Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-087284), on September 12, 2025, and is solely responsible for the information contained therein.

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