2026-03-17 20:50:08
Priority Technology Holdings, Inc. Dismisses Ernst & Young as Auditor, Engages KPMG
Expected Stock impact: Slightly Negative
On March 11, 2026, Priority Technology Holdings, Inc. announced the dismissal of Ernst & Young LLP (EY) as its independent registered public accounting firm, effective immediately. This decision was made by the Audit Committee of the company's Board of Directors. The reports from EY for the fiscal years ended December 31, 2025, and 2024, did not contain any adverse opinions or disclaimers, indicating that the financial statements were generally accepted. However, there were material weaknesses identified in the company's internal controls over financial reporting, specifically related to automated controls for data processing. These issues were previously disclosed in the company's annual and quarterly reports. The Audit Committee has authorized EY to respond to inquiries from KPMG, the newly engaged auditor. KPMG was appointed as the new independent registered public accounting firm on the same date. This transition reflects a significant change in the company's governance and oversight structure, which may impact investor confidence and perceptions of the company's financial integrity.
