Alliance Entertainment Holding Corporation Removes BDO USA, P.C. as Independent Auditor and Engages Grassi & Co., CPAs, P.C. as New Auditor

On November 18, 2024, Alliance Entertainment Holding Corporation (the “Company”) made significant changes to its independent registered public accounting firm. The Audit Committee of the Company decided to dismiss BDO USA, P.C. (“BDO”) from its role as the independent auditor. Both the Audit Committee and the Board of Directors of the Company were involved in this decision and approved the change.

BDO’s reports on the Company’s consolidated financial statements for the fiscal years ended June 30, 2024, and June 30, 2023, did not contain adverse opinions, disclaimers of opinions, or modifications except for an explanatory paragraph in the report dated October 18, 2023, expressing concerns about the Company’s ability to continue as a going concern.

There were no disagreements between the Company and BDO on accounting principles, financial statement disclosure, or auditing scope during the fiscal years ended June 30, 2024, and 2023, up to November 18, 2024. Additionally, there were no “reportable events,” except for the material weaknesses in internal control over financial reporting noted in the Company’s Annual Reports on Form 10-K for the relevant fiscal years.

The Company provided BDO with disclosure regarding the change and requested BDO to confirm its agreement with such disclosure. A letter from BDO dated November 21, 2024, regarding this matter has been filed with the Securities and Exchange Commission as Exhibit 16.1 to the Current Report on Form 8-K.

Subsequently, on the same date, November 18, 2024, the Company’s Audit Committee approved the engagement of Grassi & Co., CPAs, P.C. (the “New Auditor”) as the Company’s new independent registered public accounting firm. The Board of Directors ratified this decision. There were no consultative engagements with the New Auditor regarding accounting principles, audit opinions, or any disagreements or reportable events in the two fiscal years up to November 18, 2024.

In accordance with the SEC regulations, the company has included the necessary filings as Exhibits to the Form 8-K report, including a letter from the previous auditor and a cover page interactive data file. The document was signed on behalf of Alliance Entertainment Holding Corporation by Bruce Ogilvie, the Executive Chairman, on November 21, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Adara Acquisition’s 8K filing here.

Adara Acquisition Company Profile

Adara Acquisition Corp. was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any industry, it currently intends to concentrate its search for a target business operating in the consumer products and related industries.