AirNet's shocking choice of new auditor raises eyebrows
- AirNet Technology Inc. appointed Assentsure PAC as its new independent registered public accounting firm.
- The change was approved by the Company’s board of directors and audit committee after careful evaluation.
- This transition reflects AirNet's commitment to improving financial management and maintaining robust oversight.
On January 2, 2025, AirNet Technology Inc., which was previously known as AirMedia Group Inc., announced an important change in its public accounting firm. The decision to appoint Assentsure PAC was made after a thorough evaluation process and subsequently approved by the Company’s board of directors as well as the audit committee. During the engagement period of Audit Alliance LLP, the outgoing auditor, there were no significant disagreements or reportable events as defined by accounting regulations. This smooth transition reportedly involved close collaboration among the Company, Assentsure, and Audit Alliance. The prior auditor’s engagement lasted through the fiscal years ending on December 31, 2022, and 2023, and concluded without any unresolved issues. By making this change, AirNet expresses its commitment to maintaining robust financial management practices and aims to enhance its accounting oversight moving forward, ensuring stakeholders’ confidence and compliance with federal regulations. Such transitions are often part of corporate strategy to enhance governance and financial integrity, reflecting the firm’s responsiveness to changing business needs and the desire for continuous improvement in financial reporting standards within the dynamic market environment.