8-K: Regen Biopharma Appoints BCRG Group as New Independent Auditor, Dismisses Bush and Associates CPA LLC

Regen Biopharma, Inc. has replaced its independent auditor, appointing BCRG Group and dismissing Bush and Associates CPA LLC, effective March 31, 2025.

Summary

• Regen Biopharma, Inc. announced the appointment of BCRG Group as its new independent auditor on March 31, 2025.
• The Board of Directors, acting as the Audit Committee, approved this engagement.
• Concurrently, Bush and Associates CPA LLC was dismissed as the independent registered public accounting firm, effective immediately on March 31, 2025.
• Bush had been engaged since May 28, 2024, and completed a review of the interim financial statements for the period ended June 30, 2024, but conducted no full audit.
• The company stated that there were no disagreements with Bush on accounting principles, practices, financial statement disclosure, or auditing scope.
• Regen Biopharma requested a letter from Bush to the SEC confirming agreement with the disclosures, but as of April 4, 2025, no response had been received.
• The letter from Bush will be filed as an exhibit to an amendment to this report upon receipt.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine change in auditors with no reported disagreements, but the lack of a response from the previous auditor introduces a slight element of uncertainty.

Positives

• The company states that there were no disagreements with the previous auditor, Bush and Associates CPA LLC, regarding accounting principles or practices.

Risks

• The delay in receiving the confirmation letter from Bush and Associates CPA LLC could potentially raise concerns until it is received and filed.

Future Outlook

The company will file an amendment to the current report with the letter from Bush and Associates CPA LLC upon receipt.

Management Comments

• David Koos, Chairman and Chief Executive Officer, signed the report on behalf of Regen Biopharma, Inc.

Industry Context

Changes in auditors are relatively common, but it's important to ensure a smooth transition and maintain transparency with regulatory bodies.

Comparison to Industry Standards

• Auditor changes are not uncommon, but the lack of a response from the previous auditor is unusual.
• Companies like Pfizer, Johnson & Johnson, and Merck typically have long-standing relationships with their auditors, often from the Big Four accounting firms (Deloitte, Ernst & Young, KPMG, and PwC).

Stakeholder Impact

• Shareholders should be aware of the change in auditors, but the company states there were no disagreements on accounting principles.
• The transition should be seamless and not impact the company's financial reporting.

Next Steps

• The company will file an amendment to the report once the letter from Bush and Associates CPA LLC is received.
• BCRG Group will begin its role as the independent auditor.

Key Dates

Keywords

independent auditor, BCRG Group, Bush and Associates CPA LLC, audit committee, Regen Biopharma, auditor, accounting