Fly-E Group, Inc. 8-K

What Happened
Fly-E Group, Inc. announced on March 6, 2026 that its Audit Committee approved the dismissal of Marcum Asia CPAs LLP as the company’s independent registered public accounting firm and appointed Fortune CPA, Inc. to perform a review of the quarter ended December 31, 2025 and to audit the consolidated financial statements for the fiscal year ending March 31, 2026. Marcum Asia’s audit reports for the fiscal years ended March 31, 2025 and 2024 contained no adverse opinions or disclaimers and were unqualified except for an explanatory "going concern" paragraph.

Key Details

• Audit Committee action date: March 6, 2026; appointment covers quarter review (Dec 31, 2025) and FY ending March 31, 2026 audit.
• Prior auditor: Marcum Asia CPAs LLP — audits for FY2025 and FY2024 unmodified except going-concern explanatory paragraph.
• No disagreements or reportable events with Marcum Asia for FY2024, FY2025 or through March 6, 2026, other than previously disclosed material weaknesses (Form 10‑K filed July 15, 2025).
• Material weaknesses disclosed: insufficient U.S. GAAP/SEC reporting personnel; lack of formal internal control policies and independent supervision; inadequate IT general controls (logical access, change management, operations, service organization and cybersecurity).
• Fortune CPA, Inc. stated it was not consulted by the company on accounting or auditing matters during FY2024, FY2025 or the interim period through March 6, 2026. A letter from Marcum Asia dated March 12, 2026 is filed as Exhibit 16.1.

Why It Matters
A change in independent auditor is material because it affects who will examine and sign off on the company’s upcoming quarterly and annual financial statements. Investors should note that the prior auditor’s reports were unqualified but included a going-concern explanatory paragraph and that material weaknesses in internal controls remain disclosed — these issues can affect the quality and timing of financial reporting until remediated. The new auditor will perform the FY2026 audit, and their report will be important for assessing Fly-E’s financial controls and prospects going forward.