Auditor Resigns After Citing Internal Control Weaknesses at Newbury Street Acquisition Corporation
Newbury Street Acquisition Corporation announced that its independent auditor, Marcum LLP, has resigned effective November 21, 2025. While Marcum did not issue any adverse opinions on the company's financial statements for 2023 and 2022, its audit reports included an explanatory paragraph expressing doubt about the company's ability to continue as a going concern. In addition, material weaknesses in internal control over financial reporting were identified in recent filings. No disagreements on accounting matters or other reportable events were cited, apart from the internal control weaknesses.
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