Item 4.01 Changes in Registrant's Certifying Accountant
On October 31, 2022, the Board of Directors of Leader Capital Holdings Corp.
(the "Company") approved the engagement of YCY CPAS PLLC ("YCY") as its
independent registered public accounting firm for the fiscal year ended August
31, 2022, subject to YCY's completion of their client acceptance procedures. On
the same day, the Board of Directors approved the dismissal of Centurion ZD CPA
& Co. ("Centurion") as independent registered public accounting firm of the
Company effective immediately.
The reports of Centurion on the financial statements of the Company as of and
for the years ended August 31, 2021 and 2020 contained no adverse opinion or
disclaimer of opinion and were not qualified or modified as to uncertainty,
audit scope or accounting principle, except for an explanatory paragraph in such
reports regarding substantial doubt about the Company's ability to continue as a
going concern.
For the years ended August 31, 2021 and 2020, and through the interim period
ended October 31, 2022, the Company had no "disagreements" (as described in Item
304(a)(1)(iv) of Regulation S-K) with Centurion on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure, which disagreements, if not resolved to the satisfaction of
Centurion, would have caused it to make reference to the subject matter of such
disagreements in its audit reports.
For the years ended August 31, 2021 and 2020, and through the interim period
ended October 31, 2022, there was one "reportable event" within the meaning of
Item 304(a)(1)(v) of Regulation S-K, relating to disclosure of material
weaknesses in the Company's internal control over financial reporting. As
previously reported, the management of the Company identified following material
weaknesses as of August 31, 2021: (i) the Company does not have an audit
committee; (ii) the Company does not maintain adequate written policies and
procedures; (iii) the Company did not implement appropriate information
technology controls; and (iv) the Company does not have sufficient and skilled
accounting personnel with an appropriate level of technical accounting knowledge
and experience in the application of accounting principles generally accepted in
the United States commensurate with the Company's financial reporting
requirements
The Company has provided Centurion with a copy of the disclosures it is making
in this Form 8-K and requested that Centurion furnish the Company a letter
addressed to the U.S. Securities and Exchange Commission stating whether it
agrees with the above statements. A copy of Centurion's letter, dated November
1, 2022 is filed as Exhibit 16.1 to this Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
16.1 Letter dated November 1, 2022 from Centurion ZD CPA & Co. to the
Securities and Exchange Commission, regarding change in certifying
accountant of the Company.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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