8-K: Good Times Restaurants Inc. Announces Auditor Change Following Moss Adams Merger with Baker Tilly

Good Times Restaurants Inc. (GTIM) has appointed Baker Tilly US, LLP as its new independent registered public accounting firm, succeeding Moss Adams LLP, due to a merger between Moss Adams and Baker Tilly.

Summary

• Good Times Restaurants Inc. (GTIM) was notified on June 6, 2025, that its independent registered public accounting firm, Moss Adams LLP, merged with Baker Tilly US, LLP, effective June 3, 2025.
• As a result of the merger, Moss Adams LLP resigned as the Company's auditors.
• The Audit Committee of the Company's Board of Directors approved the appointment of Baker Tilly US, LLP as the successor independent registered public accounting firm.
• Audit reports issued by Moss Adams for the fiscal years ended September 24, 2024, and September 26, 2023, did not contain any adverse opinions, disclaimers, or qualifications.
• There were no disagreements on accounting principles or practices, financial statement disclosure, or auditing scope or procedure with Moss Adams during the specified periods.
• No reportable events requiring disclosure pursuant to Item 304(a)(1)(v) of Regulation S-K occurred during the specified periods.
• The Company did not consult with Baker Tilly regarding accounting principles or audit opinions prior to their appointment.
• Moss Adams LLP provided a letter to the SEC, dated June 6, 2025, confirming their agreement with the statements made by the Company in the Form 8-K.

Sentiment

Score: 6

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

Positives

• The transition of auditors is a result of a merger between the previous auditor and the new firm, indicating a structural change rather than performance-related issues.
• Moss Adams' audit reports for the past two fiscal years (ended September 24, 2024, and September 26, 2023) contained no adverse opinions, disclaimers, or qualifications, suggesting clean financial statements under their tenure.
• There were no disagreements on accounting principles, financial statement disclosure, or auditing scope/procedure with Moss Adams, indicating a smooth relationship and adherence to accounting standards.
• No reportable events were identified, which is a positive indicator of corporate governance and financial reporting practices.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding the company's financial performance or strategic direction.

Management Comments

• Ryan M. Zink, Chief Executive Officer, signed the report on behalf of Good Times Restaurants Inc.

Industry Context

Mergers among accounting firms are a common occurrence in the professional services industry, often leading to changes in client audit engagements. This specific change reflects a consolidation within the auditing sector rather than an isolated event specific to Good Times Restaurants Inc.

Corporate Governance

Stakeholder Impact

• Shareholders: The change in auditors is a routine event stemming from an accounting firm merger and does not indicate underlying financial issues, thus likely having a neutral impact on shareholder confidence.
• Management: Ensures continued compliance with SEC reporting requirements through the engagement of a new auditing firm.

Next Steps

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

Key Dates

Keywords

Auditor Change, SEC Filing, Form 8-K, Good Times Restaurants Inc., GTIM, Moss Adams LLP, Baker Tilly US LLP, Independent Registered Public Accounting Firm, Corporate Governance, Financial Reporting