Bakkt Holdings, Inc., a company listed on the New York Stock Exchange under the symbol BKKT, has announced significant changes to its accounting oversight. On June 3, 2024, the Audit and Risk Committee of Bakkt Holdings dismissed Ernst & Young LLP (EY) as its independent registered public accounting firm. The dismissal follows a solicitation process for new accounting firm proposals for the fiscal year ending December 31, 2024. Despite the change, EY's reports on Bakkt Holdings' financial statements for the fiscal years ended December 31, 2023, and 2022 did not contain any adverse opinions or qualifications. Furthermore, there were no disagreements on accounting principles or practices during the audits of those years or the subsequent interim period through June 3, 2024. The only exception was the disclosure of a...Show More

Bakkt Holdings, Inc., a company listed on the New York Stock Exchange under the symbol BKKT, has announced significant changes to its accounting oversight. On June 3, 2024, the Audit and Risk Committee of Bakkt Holdings dismissed Ernst & Young LLP (EY) as its independent registered public accounting firm. The dismissal follows a solicitation process for new accounting firm proposals for the fiscal year ending December 31, 2024. Despite the change, EY's reports on Bakkt Holdings' financial statements for the fiscal years ended December 31, 2023, and 2022 did not contain any adverse opinions or qualifications. Furthermore, there were no disagreements on accounting principles or practices during the audits of those years or the subsequent interim period through June 3, 2024. The only exception was the disclosure of a material weakness in internal control over financial reporting in the first quarter of 2024. Following the dismissal of EY, the Audit Committee appointed KPMG LLP as the new independent registered public accounting firm for the remainder of the fiscal year. Bakkt Holdings has provided EY with the disclosures made in the current report and has included EY's response letter dated June 7, 2024, as an exhibit to the report.