SPAR Group, Inc. 8-K

What Happened
SPAR Group, Inc. (SGRP) announced on Form 8-K that its Audit Committee and Board approved the dismissal of BDO USA, P.C. as the company's independent registered public accounting firm (approved April 6, 2026; BDO notified April 7, 2026) and engaged Grant Thornton LLP as the new independent auditor for the fiscal year ending December 31, 2026. BDO’s audit reports for the fiscal years ended December 31, 2025 and 2024 were unqualified (no disclaimer or adverse opinion).

Key Details

• Audit firm change approved by the Audit Committee and Board on April 6, 2026; BDO was notified on April 7, 2026.
• BDO’s audit reports for the 2024 and 2025 fiscal years contained no qualifications; there were no disagreements or reportable events between SGRP and BDO during that period except for previously disclosed material weaknesses.
• The material weaknesses (disclosed in SGRP’s 2024 Form 10-K) relate to controls over the financial close process and controls over non‑recurring transactions, including accounting for the deconsolidation and sale of international components.
• Grant Thornton was engaged for fiscal 2026 and neither the company nor its representatives consulted Grant Thornton on accounting matters for 2024–2025 prior to the engagement. BDO furnished a letter filed as Exhibit 16.1 in the 8-K and is authorized to respond to Grant Thornton inquiries.

Why It Matters
A change in the independent auditor is an important governance event for investors because it affects who reviews and attests to the company’s financial statements and internal controls. While prior audits were unqualified, the company has disclosed material weaknesses in its financial close and deconsolidation accounting controls. Investors should note the auditor change, the existing control weaknesses, and any future disclosures from Grant Thornton about audit findings or remediation progress.