Does this remind you of any company you can think of? LOL
The way this works in the pinks, is you just ignore this, and then after you lose 98% of your investment, you point fingers at the SEC and management, and blame them instead of owning up to you ignoring the obvious red flags.
Another Critical risk indicator would be if a company were to change its auditors more than once in a two-year span. To us, this could only signify that a company was trying – and failing – to unduly influence the auditor’s opinion, or that the departing auditors were unwilling to express an unqualified opinion on the company’s financial statements. The multiple auditor switches in a relatively brief time period is a definite risk indicator.
https://www.investopedia.com/articles/financialcareers/07/warning_signs.asp Switching Auditors All public companies must have their books audited by an outside accounting firm. And while it is not uncommon for companies to switch firms from time to time, abrupt dismissal of an auditor or accounting firm for no apparent reason should raise red flags. It is usually a sign that there is a disagreement over how to book revenue or conflict with members of the management team. Neither is a good sign.