Pioneer Power Solutions Announces Change in Certifying Accountant

Pioneer Power Solutions, Inc. (NASDAQ: PPSI) recently disclosed in a Form 8-K filing with the Securities and Exchange Commission a change regarding the appointment of its certifying accountant.

On November 20, 2024, the audit committee of Pioneer Power Solutions, Inc. approved the dismissal of Marcum LLP as the company’s independent registered public accounting firm, effective as of November 14, 2024. Following this decision, the company has authorized Marcum LLP to address all inquiries posed by BDO USA, P.C. (BDO) regarding the reportable events outlined in the Company’s prior Current Report on Form 8-K filed on November 20, 2024.

Pioneer Power Solutions’ Audit Committee had previously sanctioned the engagement of BDO, and as of November 26, 2024, the company finalized an engagement agreement with BDO. Under this agreement, BDO will now function as the company’s independent registered public accounting firm for the fiscal year closing on December 31, 2024.

During the fiscal years ending December 31, 2023, and December 31, 2022, extending through the interim period up to November 26, 2024, neither Pioneer Power Solutions nor any associated entity had consulted with BDO regarding the application of accounting principles to any specific transactions or audit-related opinions on the company’s consolidated financial statements. Moreover, there were no “disagreements” or “reportable events” as per the definitions outlined in Regulation S-K during this timeframe.

In compliance with the Securities Exchange Act of 1934, the report was signed on behalf of Pioneer Power Solutions, Inc. by Walter Michalec, the Chief Financial Officer, on November 26, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Pioneer Power Solutions’s 8K filing here.

About Pioneer Power Solutions

Pioneer Power Solutions, Inc, together with its subsidiaries, design, manufacture, integrate, refurbish, distribute, sell, and service electric power systems, distributed energy resources, power generation equipment, and mobile EV charging solutions. The company operates through Electrical Infrastructure Equipment and Critical Power Solutions segments.