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- Material Weakness (new) — The filing discloses unremediated material weaknesses in internal control over financial reporting, which is a reportable event under Item 304(a)(1)(v).
Terra Innovatum Global dismisses KPMG as auditor, names MaloneBailey amid unremediated material weaknesses
Filed October 16, 2026 · Period ending October 9, 2026 · ~1 min read
Key Changes
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high
Audit Committee dismissed KPMG as independent auditor effective October 12, 2026, and approved MaloneBailey as successor for fiscal 2026, subject to client acceptance procedures.
Item 4.01 verify on EDGAR → -
high
Filing discloses unremediated material weaknesses in internal control over financial reporting, a reportable event under Item 304(a)(1)(v).
Item 4.01 verify on EDGAR → -
medium
KPMG's 2025 audit opinion was unqualified; no disagreements on accounting principles, disclosure, or audit scope were reported.
Item 4.01 verify on EDGAR →
Summary
Terra Innovatum Global N.V. dismissed KPMG as its independent auditor effective October 12, 2026, and approved MaloneBailey as the new auditor for fiscal 2026, subject to completion of standard client acceptance procedures. The company states the change was not due to any disagreement with KPMG, and KPMG's 2025 audit opinion was unqualified. However, the filing discloses that the company has unremediated material weaknesses in internal control over financial reporting, which is a reportable event under SEC rules.
This is a significant concern for investors, as material weaknesses can increase the risk of financial misstatements and may signal deeper governance or operational issues. The company has not yet remediated these weaknesses, and the new auditor will need to assess them as part of its engagement.
Section-by-Section Diff
Event · Item 4.01 — Changes in Registrant's Certifying Accountant
Terra Innovatum Global dismissed KPMG as auditor and engaged MaloneBailey, citing unremediated material weaknesses in internal controls.
Added in current filing · verify on EDGAR →
On October 9, 2026, the Audit Committee of the Board of Directors (the “Audit Committee”) of Terra Innovatum Global N.V. (the “Company”) dismissed KPMG Accountants N.V. (“KPMG”) as the Company’s independent registered public accounting firm, effective as of October 12, 2026.
The Audit Committee dismissed KPMG as the company's independent auditor effective October 12, 2026. The filing states the change is not the result of any disagreement with KPMG.
Added in current filing · verify on EDGAR →
KPMG’s audit report on the Company’s financial statements as of and for the fiscal year ended December 31, 2025 did not contain an adverse opinion or a disclaimer of opinion and was not qualified or modified as to uncertainty, audit scope or accounting principles.
KPMG's most recent audit opinion on the company's financial statements was unqualified, with no adverse opinion, disclaimer, or modification. This means the auditor change was not driven by a disagreement over the financial statements themselves.
Added in current filing · verify on EDGAR →
there were (i) no disagreements (as defined in Item 304(a) (1) (iv) of Regulation S-K) between the Company and KPMG on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure
The company states there were no disagreements with KPMG on accounting principles, financial statement disclosure, or auditing scope or procedure during the period KPMG served as auditor. This is a required disclosure under SEC rules when an auditor is dismissed.
Added in current filing · verify on EDGAR →
except for the material weaknesses in the Company’s internal control over financial reporting described in Part II, Item 9A of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and Part I, Item 4 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026
The company notes it has identified material weaknesses in internal control over financial reporting in the past and may do so again that were identified in its 2025 annual report and its Q2 2026 quarterly report. The filing states these material weaknesses have not been remediated.
Added in current filing · verify on EDGAR →
The Audit Committee has approved the engagement of MaloneBailey as the Company’s new independent registered public accounting firm for the fiscal year ending December 31, 2026, and the Company intends to engage MaloneBailey, subject to MaloneBailey’s completion of its standard client acceptance procedures.
The Audit Committee approved MaloneBailey as the new independent auditor for fiscal year 2026, subject to completion of standard client acceptance procedures. MaloneBailey previously served as the company's auditor from April 29, 2025 to January 15, 2026.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 16, 2026 · How we verify