New Century Logistics (BVI) Ltd. Identifies Material Weaknesses in U.S. GAAP Compliance, Changes Auditor

Reuters
08 Jul
<a href="https://laohu8.com/S/NCRE">New Century</a> Logistics (BVI) Ltd. Identifies Material Weaknesses in U.S. GAAP Compliance, Changes Auditor

New Century Logistics (BVI) Ltd. announced a change in its independent registered public accounting firm, dismissing ZH CPA, LLC and appointing AOGB CPA Limited, effective July 8, 2025. The decision, approved by the company's audit committee, was not due to any disagreements with ZH CPA over accounting principles or auditing procedures. However, the company acknowledged material weaknesses related to a lack of adequately skilled staff knowledgeable in U.S. GAAP, affecting compliance with SEC reporting requirements. This issue was highlighted in the annual report for the fiscal year ended September 30, 2024. Despite these weaknesses, ZH CPA's audit reports for 2023 and 2024 were not adversely modified.

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