Supermicro doesn’t see restatement of quarterly reports for FY24

In a regulatory filing, Supermicro (SMCI) said the Chair of the Audit Committee discussed with Ernst & Young the reasons for EY’s resignation. The company has begun the process of identifying a successor independent registered public accounting firm. The company will authorize EY to respond fully to the inquiries of the successor independent registered public accounting firm, once selected. The company does not currently expect that resolution of any of the matters raised by EY, or under consideration by the Special Committee will result in any restatements of its quarterly reports for the fiscal year 2024 ending June 30, 2024, or for prior fiscal years. EY was engaged on March 15, 2023 to perform an audit for the company’s fiscal year ending June 30, 2024, and has not issued any report on the company’s financial statements or the company’s internal control over financial reporting. EY resigned while conducting the audit for the company’s fiscal year ended June 30, 2024, EY’s first audit on the company’s behalf.