Informa TechTarget announced on December 19, 2024, a change in its independent registered public accounting firm, dismissing Stowe & Degon and PwC UK, and engaging PwC US to audit its consolidated financial statements for the year ended December 31, 2024. This change follows the recent merger and the need to align auditing practices.
The company disclosed material weaknesses in internal control over financial reporting, which were identified during the preparation of the Informa Tech Digital Businesses' financial statements. These weaknesses included a lack of sufficient accounting personnel, ineffective control design and monitoring, and issues with accounting for complex transactions.
While the previous auditors' reports contained no adverse opinions, the identified control weaknesses are a significant concern for financial reporting accuracy. The company will need to implement robust remediation efforts to strengthen its internal controls and restore investor confidence in its financial statements.
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