Business
International Battery Metals Announces Change of Auditor and Change to US GAAP Reporting
VANCOUVER, BC and HOUSTON, July 12, 2024 /CNW/ - International Battery Metals Ltd. (the "Company"), is pleased to announce that is has appointed Marcum LLP, as
About this update from International Battery Metals Ltd
[{"type":"text","content":" VANCOUVER, BC and HOUSTON, July 12, 2024 /CNW/ - International Battery Metals Ltd. (the \"Company\"), is pleased to announce that is has appointed Marcum LLP, as the Company's independent registered public accounting firm, effective as of July 2, 2024 (the \"Successor Auditor\"). The Successor Auditor is being appointed following the receipt by the Company on July 5, 2024, of a formal resignation of Crowe MacKay LLP (the \"Former Auditor\"), with said resignation effective as of July 5, 2024. The board of directors of the Company, upon the recommendation of its audit committee, appointed the Successor Auditor as the new auditor until the next Annual General Meeting of the Company. The Former Auditor did not resign as a result of any disagreements with the Company on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, and the Former Auditor's reports on the Company's previously issued financial statements did not contain any adverse opinion or a disclaimer of opinion, or was qualified or modified as to uncertainty, audit scope, or accounting principles. The Notice of Change of Auditors, together with the letter from the Former Auditors and the letter from the Successor Auditors, have been reviewed by the Company's Board of Directors. The Company has sent a Notice of Change of Auditor (the \"Notice\") to the Former Auditor and to the Successor Auditor and has received a letter from each, addressed to the securities commissions in each of British Columbia, Alberta and Ontario stating that they agree with the information contained in the Notice. The Notice, together with the letters from the Former Auditor and the Successor Auditor are available on https://www.sedarplus.ca/landingpage/. The Company also announces that commencing with its audited financial statements for the year ended March 31, 2024, it will begin reporting its results and will prepare its financial statements in accordance with United States Generally Accepted Accounting Principles (\"US GAAP\") as opposed to International Financial Reporting Standards (\"IFRS\"), which was previously followed. Some prior year information will be restated in accordance with US GAAP. Such restated information relates solely to the Company's transition to US GAAP, and there were no prior material errors, correc...