Item 4.01 Changes in Registrant’s Certifying Accountant.
(a)
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Previous Independent Accountants
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Effective November 12, 2019, Allied Corp. (the “Company,” “we,” “us,” or “our”) determined to change our auditors to the firm who had audited our operating subsidiary and consequently terminated Marcum LLP as our independent accountant. Marcum’s report on our consolidated balance sheets as of March 31, 2019 and 2018 and the related consolidated statements of operations and comprehensive income, stockholders’ equity (deficit) and cash flows for the years then ended, did not contain an adverse opinion, and was not modified as to uncertainty, audit scope or accounting principles. The decision to change our independent accountant was made and approved by the entire Board of Directors.
During our most recent fiscal years ended March 31, 2019 and 2018, through the subsequent interim periods ended June 30, 2019 and September 30, 2019, and further through November 15, 2019, there have been no disagreements with Marcum on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement, if not resolved to the satisfaction of Marcum, would have caused it to make reference to the subject matter of the disagreement(s) in connection with its report.
During our most recent fiscal years ended March 31, 2019 and 2018, through the subsequent interim periods ended June 30, 2019 and September 30, 2019, and further through November 15, 2019, Marcum did not advise us on any matter set forth in Item 304(a)(1)(v)(A) through (D) of Regulation S-K.
We have provided our former independent accountant, Marcum, with a copy of the disclosures expressed herein and we have requested that Marcum furnish us with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with such statements. Upon receipt of any such letter, we will file an amendment to this Form 8-K to include such letter as an exhibit.
(b)
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New Independent Accountants
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Effective November 12, 2019, we engaged Manning Elliott, LLP to serve as our independent registered public accounting firm for our fiscal year ending August 31, 2020. During our most recent fiscal years ended March 31, 2019 and 2018, and through the subsequent interim periods ended June 30, 2019 and September 30, 2019, up until their date of engagement, we did not consult with Manning Elliott regarding (i) the application of accounting principles to a specific transaction, either completed or contemplated, or the type of audit opinion that might be rendered on our financial statements, and no written report or oral advice was provided to us that was an important factor to be considered by us in reaching a decision as to an accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a disagreement (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K) or a reportable event (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).
We have request Manning Elliott to review the disclosure required by this Item 304(a) of Regulation S-K before it is filed with the Commission and provided them with the opportunity to furnish us with a letter addressed to the Commission containing any new information, clarification of our expression of our views, or the respects in which it does not agree with the statements made by us in response to Item 304(a) of Regulation S-K. Manning Elliott did not provide us with any new information, clarification of our expression of our views, or the respects in which it does not agree with the statements made by us in response to Item 304(a) of Regulation S-K.