CareCloud confrims ICFR attestation requirement, launches audit firm search

CareCloud (CCLD) has surpassed the accelerated filer threshold with a public float of $85.1M as of the market close on June 30. This achievement triggers a new compliance benchmark under SEC regulations-specifically, the inclusion of an auditor attestation of the Company’s Internal Control over Financial Reporting in accordance with Section 404(b) of the Sarbanes-Oxley Act. The Company’s current audit firm notified CareCloud that it does not have the capacity to perform the ICFR attestation. Because SEC rules require the same audit firm to conduct both the financial statement audit and the ICFR attestation, a change in auditors is likely necessary. To ensure full regulatory compliance and timely filing, CareCloud has launched a formal process to engage a new audit firm capable of delivering the full scope of services required for fiscal year.