Summary by Moomoo AI
Genius Group announced key leadership changes on June 20, 2024, with Eric Pulier stepping down as director to become a board advisor, while Michael Moe, Founder and CEO of GSV, joins the Board. Moe, appointed to all three board committees, brings extensive experience as co-founder of ASU+GSV Summit and author of multiple books on investment and innovation.The company has appointed Enrome LLP as its new independent auditor following Marcum LLP's termination of services on March 13, 2024. Enrome will handle the IFRS consolidated financial statements for FY2023 and re-audit FY2022 and 2021. The transition occurred without disagreements, though material weaknesses in internal controls were previously identified, including inadequate documentation and IT controls.The company disclosed several material weaknesses in internal controls as of December 31, 2022, including insufficient documentation of financial processes, inadequate segregation of duties, and deficiencies in business combination accounting. These issues affected account reconciliations, financial statement preparation, and timely annual closings.
