Summary by Moomoo AI
Bakkt Holdings announced on June 3, 2024, the appointment of KPMG LLP as its new independent registered public accounting firm for the fiscal year 2024, following the dismissal of Ernst & Young LLP (EY). The change resulted from a competitive proposal process initiated by the company's Audit and Risk Committee.EY's reports on Bakkt's consolidated financial statements for fiscal years 2022 and 2023 contained no adverse opinions or modifications. However, a material weakness in internal control over financial reporting was disclosed in the company's Q1 2024 report, which is currently being remediated.The company confirmed there were no disagreements with EY on accounting principles or practices during their tenure through June 3, 2024. Additionally, Bakkt disclosed that it had no prior consultations with KPMG regarding accounting principles or audit opinions during the fiscal years 2022 and 2023, or the subsequent interim period.
