Galaxy Payroll Group Ltd. Changes Auditors Amid Identified Material Weaknesses

Reuters
13 Jun
Galaxy Payroll Group Ltd. Changes Auditors Amid Identified Material Weaknesses

**Galaxy Payroll Group Ltd. Announces Change in Certifying Accountant** On May 12, 2025, Galaxy Payroll Group Ltd. announced a change in its independent registered public accounting firm. The company's Board of Directors, following the recommendation of its Audit Committee, dismissed Marcum Asia CPAs LLP as the certifying accountant and appointed Guangdong Prouden CPAs GP to assume the role, effective immediately. The former auditor's reports for the fiscal years ending June 30, 2023, and 2024 contained no adverse opinions or disclaimers. Galaxy Payroll Group confirmed that, as of the change date, they had not consulted with the new auditor on accounting principles or audit opinions. The company previously identified material weaknesses in their 2024 annual report, including inadequate segregation of duties, insufficient financial reporting personnel, and ineffective control frameworks. A letter from Marcum Asia CPAs LLP regarding this change was filed with the SEC.

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