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- Auditor Resignation (new) — The auditor resigned rather than being dismissed, and the resignation was tied to an unresolved disagreement over a $1.05M loan to the CEO.
- Departure of CEO (new) — The disagreement that triggered the auditor's resignation involved a loan to the CEO, raising governance concerns about related-party transactions.
- Qualified Audit Opinion (new) — Auditor issued a qualified (or adverse/disclaimer) opinion — a GAAP departure from a clean / unqualified report. Treat earnings quality claims that rely on the qualified amounts with caution.
IT Tech Packaging auditor resigns over $1.05M CEO loan dispute; HCL appointed
Filed September 1, 2026 · Period ending August 27, 2026 · ~1 min read
Key Changes
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high
Montis CPA Limited resigned as IT Tech Packaging's independent auditor effective immediately on August 27, 2026.
Item 4.01 verify on EDGAR → -
high
The resignation followed an unresolved disagreement over the accounting treatment, disclosure, and nature of a $1,050,000 loan to the CEO.
Item 4.01 verify on EDGAR → -
high
The audit committee stated the amount was a payment for equipment purchase, but Montis was not satisfied and resigned.
Item 4.01 verify on EDGAR → -
medium
On August 29, 2026, the company engaged HCL, PLLC as its new independent registered public accounting firm.
Item 4.01 verify on EDGAR → -
medium
The company states it had no prior consultations with HCL on the disputed matter.
Item 4.01 verify on EDGAR →
Summary
IT Tech Packaging's independent auditor, Montis CPA Limited, resigned effective immediately on August 27, 2026, after an unresolved disagreement with management over a $1,050,000 loan to the company's CEO. The dispute concerned the accounting treatment, disclosure, and nature of the loan. The audit committee stated the amount was a payment for equipment purchase, but Montis was not satisfied and resigned.
Two days later, the company appointed HCL, PLLC as its new independent auditor, stating it had no prior consultations with HCL on the disputed matter. The auditor's resignation over a related-party transaction raises governance concerns for investors, as it may signal deeper issues with internal controls or related-party disclosures. The auditor issued a qualified opinion (GAAP departure); do not characterize the report as unqualified or clean.
Section-by-Section Diff
Event · Item 4.01 — Changes in Registrant's Certifying Accountant
IT Tech Packaging's auditor Montis resigned over a disagreement about a $1.05M loan to the CEO; HCL was appointed as successor.
Added in current filing · verify on EDGAR →
On August 27, 2026, Montis CPA Limited (“Montis”) notified the audit committee (the “Audit Committee”) of the Board of Directors (the “Board”) of IT Tech Packaging, Inc. (the “Company”) of its resignation as the Company’s independent registered public accounting firm, effective immediately.
Montis resigned as the company's independent auditor effective immediately. The resignation was not a routine rotation; it followed an unresolved disagreement with management.
Added in current filing · verify on EDGAR →
a disagreement (as defined in Item 304(a) (1) (iv) of Regulation S-K) arose between the Company’s management and Montis concerning the accounting treatment, disclosure, and nature of a US $1,050,000 loan to the Company’s Chief Executive Officer. The disagreement was not resolved to Montis’s satisfaction, and therefore Montis discontinued the engagement and resigned.
The auditor and management disagreed over how to account for and disclose a $1,050,000 loan to the CEO. The audit committee said the amount was a payment for equipment purchase, but Montis was not satisfied and resigned.
Added in current filing · verify on EDGAR →
On August 29, 2026, the Company engaged HCL, PLLC (“HCL”) to serve as the Company’s independent registered public accounting firm, effective immediately.
Two days after Montis resigned, the company appointed HCL, PLLC as its new independent auditor. The company states it had no prior consultations with HCL on the disputed matter.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 21, 2026 · How we verify