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Sketchy Financials Send Supermicro Auditors Running For the Hills
Wednesday October 30, 2024. 10:25 PM , from Slashdot
EY's resignation apparently came months after it raised concerns with management regarding the 'governance, transparency, and completeness of' Supermicro's financial reporting, and warned that the release of the server maker's annual report was at significant risk. In response, Supermicro's board appointed an independent special committee and hired Cooley and forensic accounting firm Secretariat Advisors to review its internal controls and governance procedures. It seems EY was not too pleased with the special committee's findings which apparently raised yet more red flags. 'After receiving additional information through the Review process, EY informed the special committee that the additional information EY received raised questions, including about whether the Company demonstrates a commitment to integrity and ethical values,' the SEC filing reads. Read more of this story at Slashdot.
https://news.slashdot.org/story/24/10/30/2050248/sketchy-financials-send-supermicro-auditors-running...
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