Direct Digital says Marcum resigns as independent registered public accountant

In a regulatory filing, Direct Digital Holdings disclosed that on April 17, Marcum LLP, the company’s independent registered public accounting firm, notified the company and the Audit Committee of the company’s board of directors of Marcum’s decision to resign as the independent registered public accounting firm of the company, effective immediately. “Although their audit was not designed to identify or detect violations of law or fraud, Marcum’s resignation was not a result of any violation of law or fraud of the Company identified during its audit procedures to date. The reports of Marcum on the company’s consolidated financial statements as of and for the fiscal years ended December 31, 2022 and 2021 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles… The company and the Audit Committee are actively seeking a new independent registered public accounting firm and intend to engage a firm as soon as practicable to complete the audit and file the Form 10-K. However, there can be no assurance as to the timing of such engagement or subsequent completion of any audit. The company expects to authorize Marcum to respond fully to the inquiries of the successor independent accounting firm once engaged, including related to prior years’ audits and the identified material weakness described (in the company’s filing),” the filing stated.