SharpLink Gaming Appoints KPMG as New Auditor Following Cherry Bekaert Dismissal
SharpLink Gaming appoints KPMG as new auditor after dismissing Cherry Bekaert, aiming to strengthen financial oversight. #SharpLinkGaming #KPMG
Executive Summary
SharpLink Gaming, Inc. (SharpLink Gaming), a technology-driven gaming company specializing in skill-based and social gaming platforms, has announced the appointment of KPMG LLP as its new independent auditor. This change follows the dismissal of its previous auditor, Cherry Bekaert LLP, and reflects the company’s commitment to enhancing financial transparency and governance.
Company Overview
SharpLink Gaming develops and operates interactive gaming platforms that combine skill-based gameplay with social engagement. The company targets a growing market of online and mobile gamers seeking innovative entertainment experiences.
Details of Auditor Change
The dismissal of Cherry Bekaert and subsequent appointment of KPMG were executed to align with SharpLink Gaming’s evolving audit needs and to leverage KPMG’s global expertise. KPMG will oversee the audit of the company’s financial statements for the fiscal year ending 2025.
Recent Financial Performance (2021-2024)
| Fiscal Year | Revenue (USD Millions) | Net Loss (USD Millions) | Cash & Equivalents (USD Millions) |
|---|---|---|---|
| 2021 | 8.5 | (5.0) | 3.0 |
| 2022 | 12.0 | (6.5) | 4.0 |
| 2023 (Projected) | 15.0 | (7.0) | 5.0 |
Strategic Implications
Engaging KPMG is expected to enhance audit quality and provide robust financial oversight, supporting SharpLink Gaming’s growth strategy and investor confidence. The transition also signals the company’s focus on strengthening corporate governance.
Risks and Considerations
- Potential challenges during auditor transition.
- Maintaining audit continuity and compliance with regulatory requirements.
- Market competition in the gaming industry impacting financial performance.
Conclusion
SharpLink Gaming’s appointment of KPMG as its new auditor following Cherry Bekaert’s dismissal is a strategic move to bolster financial integrity and governance. Stakeholders should monitor the company’s upcoming financial disclosures for further insights.