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- Auditor Resignation (new) — The auditor resigned rather than being dismissed, and the resignation followed an unresolved disagreement over a $1,050,000 loan to the CEO.
- Disagreement (new) — The filing discloses a reportable disagreement under Item 304(a)(1)(iv) over a $1,050,000 loan to the CEO, which caused the auditor to resign.
- 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 hired
Filed September 1, 2026 · Period ending August 27, 2026 · ~1 min read
Key Changes
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high
Montis CPA resigned as auditor effective Aug 27, 2026, after an unresolved disagreement over a $1,050,000 loan to the CEO.
Item 4.01 verify on EDGAR → -
high
The disagreement concerned accounting treatment, disclosure, and nature of the CEO loan; Montis was not satisfied and discontinued the engagement.
Item 4.01 verify on EDGAR → -
medium
HCL, PLLC was engaged as successor auditor effective Aug 29, 2026, with no prior consultation on accounting or auditing matters.
Item 4.01 verify on EDGAR →
Summary
IT Tech Packaging's independent auditor, Montis CPA Limited, resigned effective August 27, 2026, after a disagreement with management over the accounting treatment, disclosure, and nature of a $1,050,000 loan to the company's CEO. The disagreement was not resolved to Montis's satisfaction, prompting the auditor to discontinue the engagement.
The company's audit committee stated the $1,050,000 was a payment for the purchase of equipment, but Montis did not accept that characterization. Two days later, on August 29, 2026, the company engaged HCL, PLLC as its new independent registered public accounting firm. The company had not previously consulted HCL on any accounting or auditing matters.
For investors, an auditor resignation over a disagreement involving a related-party loan is a serious red flag that may signal governance or financial reporting concerns. The rapid appointment of a successor does not resolve the underlying dispute, and the company's financial statements may face heightened scrutiny going forward.
Section-by-Section Diff
Event · Item 4.01 — Changes in Registrant's Certifying Accountant
Item 4.01 — Changes in Registrant's Certifying Accountant filed; see Key Changes for terms.
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 registered public accounting firm effective August 27, 2026. The resignation was not a routine rotation; it followed an unresolved disagreement over a $1,050,000 loan to the CEO.
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 stated the $1,050,000 was a payment for the purchase of equipment, but the auditor 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.
HCL, PLLC was engaged as the new independent registered public accounting firm effective August 29, 2026, two days after Montis resigned. The Company had not previously consulted HCL on any accounting or auditing matters.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 4, 2026 · How we verify