Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when SVCO files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsRed Flags Detected
- Material Weakness (new) — The company disclosed inadequate formalized accounting processes and insufficient qualified personnel for accurate financial reporting.
- Auditor Change (new) — Silvaco changed auditors from Baker Tilly to KPMG, marking the second auditor transition within a year.
Silvaco dismisses auditor Baker Tilly, hires KPMG amid material weakness in controls
Filed May 27, 2026 · Period ending May 21, 2026 · ~1 min read
Key Changes
-
high
Silvaco disclosed a material weakness in internal controls, citing inadequate accounting processes and insufficient qualified personnel to support accurate and timely financial reporting. This weakness was previously disclosed in the 2024 10-K.
Item 4.01 verify on EDGAR → -
high
The Audit Committee dismissed Baker Tilly on May 21, 2026, and engaged KPMG as the new independent auditor on May 27, 2026. This is Silvaco's second auditor change in a year, following Baker Tilly's merger with prior auditor Moss Adams in June 2025.
Item 4.01 verify on EDGAR → -
medium
Silvaco confirmed no disagreements with Baker Tilly on accounting principles, financial disclosures, or auditing procedures during their tenure. Baker Tilly issued clean audit opinions for 2024 and 2025.
Item 4.01 verify on EDGAR →
Summary
Silvaco's Audit Committee dismissed Baker Tilly and hired KPMG as its new independent auditor, a significant change that comes alongside disclosure of a material weakness in the company's internal controls.
The weakness centers on inadequate accounting processes and a shortage of personnel with the technical expertise needed for timely and accurate financial reporting—issues that were previously flagged in the 2024 annual report but remain unresolved. While the company states there were no disagreements with Baker Tilly and received clean audit opinions for 2024 and 2025, the timing raises questions.
This marks Silvaco's second auditor change in less than a year, following Baker Tilly's merger with previous auditor Moss Adams in mid-2025. Material weaknesses in controls can lead to accounting errors, restatements, or delayed filings, all of which carry investor risk. Retail holders should watch for Silvaco's next quarterly filing to see whether management reports progress in remediating the control weakness and whether KPMG identifies additional issues during its first audit cycle. Any delays in filing or subsequent restatements would be red flags.
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 →
During the years ended December 31, 2025, and 2024, and the subsequent interim period through May 21, 2026, there were no (a) “disagreements” (as described in Item 304(a) (1) (iv) of Regulation S-K promulgated under the Exchange Act of 1934 (“Regulation S-K”) and related instructions to that item) with Baker Tilly on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure
The company confirmed there were no disagreements with Baker Tilly on accounting principles, financial statement disclosures, or auditing procedures during the periods they served as auditor. This is a standard disclosure in auditor change filings and indicates the change was not due to accounting disputes.
Added in current filing · verify on EDGAR →
The audit report of Baker Tilly on the Company’s consolidated financial statements for the years ended December 31, 2025, and 2024, did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles.
Baker Tilly issued clean (unqualified) audit opinions on Silvaco's financial statements for 2025 and 2024, meaning the auditor found the financial statements fairly presented in accordance with accounting standards without material exceptions.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Moss Adams LLP (“Moss Adams”), the Company’s independent registered public accounting firm during the years ended December 31, 2025, and 2024, and the subsequent interim period through July 8, 2025, merged with Baker Tilly, effective on June 3, 2025, and on July 8, 2025, Baker Tilly was appointed by the Audit Committee as the successor to Moss Adams.
The filing clarifies that Baker Tilly became Silvaco's auditor through a merger with the company's previous auditor, Moss Adams, which was completed in June 2025. This provides context that the current auditor change to KPMG is the company's second auditor transition within a year.
Event · Item 9.01 — Financial Statements and Exhibits
Silvaco filed an 8-K with a letter from former auditor Baker Tilly to the SEC, typically indicating an auditor change or disagreement.
Added in current filing · verify on EDGAR →
Letter of Baker Tilly US, LLP, dated May 27, 2026, to the U.S. Securities and Exchange Commission
The company filed a letter from Baker Tilly US, LLP addressed to the SEC. Such letters are typically filed under Item 4.01 when there is an auditor change, dismissal, or resignation, and the auditor is required to state whether they agree with the company's disclosures about any disagreements or reportable events. The presence of this exhibit suggests a material auditor-related event occurred around May 21, 2026.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jun 1, 2026 · How we verify