INNSUITES HOSPITALITY TRUST 8-K

What Happened
InnSuites Hospitality Trust (IHT) filed a Form 8-K reporting that Simon & Edward LLP (S&E) will replace BCRG Group (BCRG) as the Trust’s independent registered public accounting firm. The Trust was notified on July 7, 2026 that S&E acquired BCRG’s attest business effective June 15, 2026, and on July 9, 2026 the Audit Committee dismissed BCRG and approved S&E’s appointment. The services formerly provided by BCRG will now be performed by S&E.

Key Details

• S&E’s acquisition of BCRG’s attest business was effective June 15, 2026; Trust was notified July 7, 2026 and made the auditor change on July 9, 2026.
• BCRG’s audit reports for the fiscal years ended January 31, 2026 and 2025 contained no adverse or disclaimer opinions and were not qualified, except they included an explanatory paragraph noting substantial doubt about the Trust’s ability to continue as a going concern.
• The Trust reported no disagreements or “reportable events” with BCRG for the fiscal years ended January 31, 2026 and 2025 or the interim period through the Form 8-K filing date.
• The Trust requested and filed a letter from BCRG dated July 9, 2026 confirming these statements; the Trust also disclosed it did not consult S&E prior to engagement on accounting or auditing matters.

Why It Matters
A change in independent auditor can affect investor confidence and the continuity of audit oversight. Here, the change was driven by S&E’s acquisition of BCRG’s attest practice, and the Trust reports there were no auditor disagreements or reportable events—facts that suggest an orderly transition. Investors should note the prior audit included a going-concern explanatory paragraph for fiscal 2026 and 2025, which remains an important disclosure about the Trust’s financial condition.