Item 8. Financial Statements and Supplementary Data
ITEM 8 – FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
See the financial statements included elsewhere in this Report beginning at page F-1, which are incorporated herein by reference.
ITEM 9 – CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
On April 15, 2025, the Audit Committee dismissed Rose, Snyder & Jacobs LLP (“RSJ”) as the Company’s independent registered public accounting firm and approved the engagement of Grant Thornton LLP (“Grant Thornton”) to audit the Company’s consolidated financial statements for the fiscal year ending August 31, 2025. RSJ’s report on the Company’s consolidated financial statements for the fiscal year ended August 31, 2024 did not contain an adverse opinion or a disclaimer of opinion and was not qualified or modified as to uncertainty, audit scope or accounting principles. During the Company’s fiscal years ended August 31, 2024 and August 31, 2023 and the subsequent interim period through April 15, 2025, there were (i) no disagreements with RSJ on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure that, if not resolved to RSJ’s satisfaction, would have caused RSJ to make reference to the subject matter of the disagreement in connection with its report, and (ii) no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K. RSJ provided a letter addressed to the SEC stating that it agreed with the foregoing statements concerning RSJ.
On July 9, 2025, the Audit Committee dismissed Grant Thornton and re-appointed RSJ to audit the Company’s consolidated financial statements for the fiscal year ending August 31, 2025, including reviews of interim periods therein. During the period of Grant Thornton’s engagement from April 15, 2025 through July 9, 2025, the Company and Grant Thornton discussed matters regarding segment reporting and reporting-unit determinations and evaluated certain internal controls over financial reporting; the Company did not identify any reportable events as defined in Item 304(a)(1)(v) of Regulation S-K. In accordance with Item 304(a)(3), the Company provided Grant Thornton with a copy of the Current Report on Form 8-K regarding this change and requested that Grant Thornton furnish a letter addressed to the SEC stating whether it agreed with the Company’s statements. Grant Thornton furnished such a letter dated July 14, 2025, in which it stated that it disagreed with the Company’s statements in the paragraph describing those matters and noted that the matters were not resolved to Grant Thornton’s satisfaction as of the date of its termination.
The letters from RSJ and Grant Thornton to the Securities and Exchange Commission referenced above are filed as Exhibit 16.1 and 16.2, respectively, to this Annual Report on Form 10-K.
Except as described above, there were no other changes in or disagreements with the Company’s accountants on accounting and financial disclosure during the two most recent fiscal years and the subsequent interim period.
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