Currenc Group Inc. announced a change in its independent registered public accounting firm on Monday. The company's Audit Committee dismissed Marcum LLP on October 21, 2024, and has appointed MRI Moores Rowland LLP (MRI) as its new auditor.
The dismissal of Marcum LLP comes after the firm's reports on Currenc Group's consolidated financial statements for the fiscal years ending December 31, 2023, and 2022, which contained no adverse opinions or disclaimers.
There were no disagreements on accounting principles, practices, financial statement disclosure, or auditing scope that would have required Marcum to reference in their reports for those years. Additionally, there were no reportable events in the same timeframe.
Following the departure of Marcum, MRI has been engaged as the new auditor for the fiscal year ending December 31, 2024. The company confirms that there were no consultations with MRI on accounting principles or auditing matters that would have influenced their financial reporting decisions during the fiscal years of 2023 and 2022 up to the date of engagement.
Currenc Group, formerly known as InFinT Acquisition Corp, is based in Singapore with a business address in New York. It is listed on The Nasdaq Stock Market LLC under the trading symbol CURR.
The information in this article is based on the company's recent SEC filing.
InvestingPro Insights
Recent market data from InvestingPro sheds light on Currenc Group Inc.'s current financial situation, which may be relevant to investors considering the company's recent change in auditors. The company's market capitalization stands at $108.88 million, with a P/E ratio of 35.58, indicating that investors are paying a premium for each dollar of earnings.
Currenc Group's stock has experienced significant volatility recently. While it has seen an 11.43% return over the past week, the longer-term picture is less optimistic. The stock has fallen 14.91% over the last month and a substantial 80% over the past three months. This dramatic decline is reflected in the fact that the current price is only 17.22% of its 52-week high.
InvestingPro Tips highlight that Currenc Group generally trades with high price volatility and suffers from weak gross profit margins. These factors, combined with the recent auditor change, may be of interest to investors assessing the company's financial stability and future prospects.
For those seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for Currenc Group, providing deeper insights into the company's financial health and market position.
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