8-K: Inseego Corp. Appoints CBIZ as New Independent Auditor Following Marcum LLP Acquisition

Inseego Corp. replaces Marcum LLP with CBIZ CPAs P.C. as its independent auditor following CBIZ's acquisition of Marcum's attest business.

Summary

• Inseego Corp. announced a change in its independent registered public accounting firm.
• On November 1, 2024, CBIZ CPAs P.C. acquired the attest business of Marcum LLP.
• As a result, on April 10, 2025, Marcum LLP resigned as Inseego's auditor.
• With the approval of the Audit Committee, CBIZ was engaged as the new independent auditor on the same date, April 10, 2025.
• Marcum's reports for the fiscal years ended December 31, 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 Inseego and Marcum during the relevant periods.
• Inseego did not consult with CBIZ regarding accounting principles or audit opinions prior to the engagement.

Sentiment

Score: 7

Explanation: The announcement is neutral to slightly positive. The change in auditors is a procedural matter resulting from an acquisition, and there are no indications of any underlying issues with Inseego's financial reporting.

Positives

• The transition to CBIZ appears to be smooth, with no reported disagreements or issues with the previous auditor, Marcum.
• Marcum's audit reports for the past two fiscal years were unqualified, indicating sound financial reporting.

Industry Context

Changes in auditing firms are relatively common, often driven by mergers and acquisitions within the accounting industry. Companies are required to disclose such changes to maintain transparency with investors.

Comparison to Industry Standards

• The engagement of a new auditor following an acquisition is a standard practice.
• Companies like Cisco, Juniper, and Sierra Wireless also use large accounting firms for their audit needs.
• The absence of disagreements with the previous auditor is a positive sign, aligning with best practices in corporate governance.

Stakeholder Impact

• The change in auditors is unlikely to have a significant impact on stakeholders, as it is a routine administrative matter.

Key Dates

Keywords

auditor, CBIZ, Marcum, Inseego, accounting firm, financial reporting