Fuse Group Holding Inc. Dismisses KCCW Amid Concerns Over IT Controls and Staffing in Accounting Department
Reuters
Aug 27, 2025
<a href="https://laohu8.com/S/FUST">Fuse Group Holding Inc.</a> Dismisses KCCW Amid Concerns Over IT Controls and Staffing in Accounting Department
Fuse Group Holding Inc. has announced a significant change in its accounting practices following the dismissal of KCCW Accountancy Corp. as its independent registered public accounting firm, effective August 21, 2025. The company's Board of Directors approved the decision, citing the need for improved financial oversight. Although KCCW's previous audits did not contain adverse opinions, there was an expressed uncertainty about the company's ability to continue as a going concern. Additionally, Fuse Group Holding Inc. highlighted several material weaknesses, including inadequate information technology controls and insufficient accounting personnel with U.S. GAAP and SEC reporting expertise. These issues have not yet been remedied, raising concerns about potential errors or fraud in financial reporting.
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