8-K: CF Bankshares Inc. Changes Certifying Accountant to Plante & Moran
8-K Filing
CF Bankshares Inc. has replaced Forvis Mazars with Plante & Moran as its independent registered public accounting firm, effective March 26, 2025.
Summary
- CF Bankshares Inc. announced the engagement of Plante & Moran, PLLC as their new independent registered public accounting firm, effective March 26, 2025.
- This decision was approved by the Audit Committee of the Board of Directors.
- Forvis Mazars, LLP, the previous accounting firm, was notified of their dismissal on March 27, 2025.
- The reports from Forvis Mazars for the fiscal years 2023 and 2024 did not contain any adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- There were no disagreements or reportable events between CF Bankshares and Forvis Mazars during the specified period.
- CF Bankshares did not consult with Plante & Moran on accounting principles or audit opinions prior to their engagement.
Sentiment
Score: 7
Explanation: The announcement is neutral to positive. The change in auditors appears to be a routine matter with no indication of any underlying issues.
Positives
- The transition to a new accounting firm appears to be smooth, with no reported disagreements or reportable events with the previous firm, Forvis Mazars.
- Forvis Mazars' reports for the past two fiscal years did not contain any adverse opinions or disclaimers.
Industry Context
Changes in accounting firms are not uncommon, but they are always noteworthy as they can signal a company's desire for a fresh perspective or specialized expertise. The selection of Plante & Moran, a well-regarded firm, suggests CF Bankshares is focused on maintaining strong financial oversight.
Stakeholder Impact
- Shareholders may view the change in accounting firms as a standard corporate governance procedure.
- Employees in the finance department will need to coordinate with the new accounting firm.
Key Dates
| Date | Description |
|---|---|
| December 31, 2023 | End of fiscal year for which Forvis Mazars issued a report. |
| December 31, 2024 | End of fiscal year for which Forvis Mazars issued a report. |
| March 26, 2025 | Effective date of Plante & Moran's engagement as the independent registered public accounting firm. |
| March 27, 2025 | Date CF Bankshares notified Forvis Mazars of their dismissal. |
| March 31, 2025 | Date of the 8-K filing and the Forvis Mazars letter to the SEC. |
Keywords
accounting firm, Plante & Moran, Forvis Mazars, independent auditor, CF Bankshares, auditor
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