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Phoenix Asia Holdings Changes Accounting Firm Amid Internal Control Concerns

Story Highlights
  • Phoenix Asia Holdings changed its accounting firm to J&S Associate PLT on June 10, 2025.
  • ARK Pro identified material weaknesses in Phoenix Asia’s internal controls over financial reporting.
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Phoenix Asia Holdings Changes Accounting Firm Amid Internal Control Concerns

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The latest update is out from Phoenix Asia Holdings Ltd. ( (PHOE) ).

Phoenix Asia Holdings Limited announced a change in its independent registered public accounting firm on June 10, 2025. The company accepted the resignation of ARK Pro CPA & Co, which had served since July 2024, and appointed J&S Associate PLT as the new firm. Despite the change, there were no disagreements with ARK Pro regarding accounting principles or practices, and the reports from ARK Pro did not contain any adverse opinions. However, ARK Pro identified material weaknesses in Phoenix Asia’s internal controls over financial reporting, including a lack of sufficient personnel knowledgeable in U.S. GAAP and inadequate internal audit functions.

More about Phoenix Asia Holdings Ltd.

Phoenix Asia Holdings Limited operates in the financial sector, focusing on providing comprehensive financial services and solutions. The company is headquartered in Kowloon Bay, Hong Kong, and is involved in various financial operations and services.

Average Trading Volume: 207,889

Learn more about PHOE stock on TipRanks’ Stock Analysis page.

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