8-K: Evolution Petroleum Announces Smooth Transition to New Auditor Baker Tilly Following Moss Adams Merger

Evolution Petroleum Corporation has announced a change in its independent registered public accounting firm from Moss Adams LLP to Baker Tilly US, LLP, effective June 3, 2025, due to a merger between the two firms.

Summary

• Evolution Petroleum Corporation (EPM) was notified on June 3, 2025, that its independent registered public accounting firm, Moss Adams LLP, merged with Baker Tilly US, LLP.
• The combined audit practices will operate under the name Baker Tilly US, LLP.
• Moss Adams LLP has resigned as the company's auditors, and the Audit Committee of Evolution Petroleum's Board of Directors approved the appointment of Baker Tilly US, LLP as the successor.
• Audit reports issued by Moss Adams for the fiscal years ended June 30, 2024, and 2023, and for internal control over financial reporting as of June 30, 2024, contained no adverse opinions, disclaimers, qualifications, or modifications.
• There were no disagreements on accounting principles, financial statement disclosure, or auditing scope/procedure between the Company and Moss Adams during the fiscal years ended June 30, 2024, and 2023, and the subsequent interim period through March 31, 2025.
• No reportable events, as defined in Item 304(a)(1)(v) of Regulation S-K, occurred during these periods.
• Neither the Company nor any party acting on its behalf consulted with Baker Tilly US, LLP regarding accounting principles or audit opinions prior to their appointment.
• Moss Adams LLP provided a letter to the SEC, dated June 5, 2025, confirming their agreement with the disclosures made in the Form 8-K.

Sentiment

Score: 7

Explanation: The sentiment is positive because the change in auditor is due to a merger, not performance issues, and there were no disagreements or reportable events with the previous auditor, indicating a smooth and clean transition.

Positives

• The transition to the new auditing firm, Baker Tilly US, LLP, was a result of a merger, indicating a procedural change rather than a dismissal due to performance issues.
• Moss Adams LLP's audit reports for fiscal years 2023 and 2024, and internal control over financial reporting, contained no adverse opinions, disclaimers, or qualifications, indicating clean audits prior to the change.
• There were no disagreements on accounting principles or auditing scope, nor any reportable events, between Evolution Petroleum and Moss Adams LLP, suggesting a healthy relationship and sound financial reporting practices.

Future Outlook

The document primarily addresses a change in the company's independent registered public accounting firm due to a merger, and does not provide forward-looking statements or guidance related to the company's operational or financial performance.

Management Comments

• Ryan Stash, Senior Vice President and Chief Financial Officer, signed the report on behalf of Evolution Petroleum Corporation.

Industry Context

Changes in independent auditing firms due to mergers and acquisitions within the accounting industry are common. This event reflects a standard procedural update following such a consolidation, rather than an issue specific to Evolution Petroleum's financial practices.

Comparison to Industry Standards

• The transition of auditing firms due to mergers, such as Moss Adams LLP merging with Baker Tilly US, LLP, is a common occurrence in the accounting industry and aligns with standard practices for publicly traded companies when their auditors undergo significant structural changes.
• The absence of disagreements on accounting principles or reportable events with the outgoing auditor, Moss Adams LLP, for the fiscal years ended June 30, 2024, and 2023, and the subsequent interim period, indicates a clean audit history, which is a positive sign consistent with good corporate governance and financial transparency standards.

Corporate Governance

Stakeholder Impact

• Shareholders: Minimal direct impact, as the change is procedural and indicates a smooth transition with no prior audit issues. It ensures continued independent oversight of financial statements.
• Management: Ensures compliance with SEC regulations regarding auditor changes and maintains continuity in financial reporting processes.

Next Steps

• Baker Tilly US, LLP will serve as Evolution Petroleum Corporation's independent registered public accounting firm for future audits.

Key Dates

Keywords

Evolution Petroleum Corporation, EPM, SEC filing, Form 8-K, auditor change, independent registered public accounting firm, Moss Adams LLP, Baker Tilly US LLP, corporate governance, financial reporting, audit committee