The InterGroup Corporation Announces Change in Independent Registered Public Accounting Firm

Key Points for Investors

• Dismissal of WithumSmith+Brown, PC as Auditor: The InterGroup Corporation (NASDAQ: INTG) has dismissed WithumSmith+Brown, PC (“Withum”) as its independent registered public accounting firm, effective March 19, 2026.
• Appointment of Whitley Penn LLP: The Board of Directors has appointed Whitley Penn LLP (“Whitley”) as the new independent registered public accounting firm to audit the Company’s consolidated financial statements for the fiscal year ending June 30, 2026.

Details of the Change

The report states that during Withum’s engagement as the Company’s auditor (fiscal years ended June 30, 2025 and 2024, and the interim period through March 19, 2026), there were:

• No disagreements between the Company and Withum on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to Withum’s satisfaction, would have caused Withum to make reference to the subject matter of the disagreement in connection with its reports.
• No “reportable events” as defined in Item 304(a)(1)(v) of Regulation S-K.

The Company provided Withum with a copy of the Form 8-K prior to filing and requested that Withum furnish it with a letter addressed to the SEC stating whether it agrees with the statements made in the filing. Withum provided a letter, dated March 23, 2026, stating its agreement with the Company’s disclosures regarding their engagement and dismissal.

Additionally, during the transition period, neither the Company nor anyone on its behalf consulted with Whitley regarding the application of accounting principles to any specified transaction or the type of audit opinion that might be rendered on the Company’s financial statements, nor were there any matters considered a disagreement or reportable event with Whitley.

Potential Impact and Shareholder Considerations

• Although the Company reports no disagreements or “reportable events” with the outgoing auditor, a change in independent auditor is a material event that investors should monitor closely. Such changes may sometimes signal underlying shifts in financial reporting, corporate governance, or audit-related strategies, all of which can be material to share valuation.
• The selection of a new auditor, Whitley Penn LLP, introduces a new team and perspective to the Company’s audit process. Investors should pay close attention to upcoming quarterly and annual filings for any changes or new disclosures that could impact the Company’s financial statements or outlook.
• No adverse findings or disagreements were noted with the outgoing auditor, which should provide some reassurance regarding the Company’s recent financial reporting integrity.

Additional Information

• Company Name: The InterGroup Corporation
• Trading Symbol: INTG
• Exchange: NASDAQ Capital Market
• Form Type: 8-K (Current Report)
• Date of Event: March 19, 2026
• Date of SEC Filing and Auditor Letter: March 23, 2026
• Business Address: 11620 Wilshire Boulevard, Suite 350, Los Angeles, CA 90025

What Investors Should Watch Going Forward

• Future financial reports: The first annual audit by Whitley Penn LLP (for fiscal 2026) will be a key disclosure for investors assessing the continuity and transparency of financial reporting.
• SEC correspondence: The Company’s Form 8-K includes Withum’s letter to the SEC, which affirms the facts disclosed by management. Investors may review these exhibits for further assurance.
• Market sentiment: While the report notes no adverse disagreements, market participants may react to changes in auditor as a matter of governance vigilance. Any new findings or restatements in upcoming reports could affect share price.

Disclaimer: This article is for informational purposes only and does not constitute financial advice, investment advice, or a recommendation to buy or sell any securities. Investors are encouraged to conduct their own due diligence and consult with their financial advisor before making investment decisions.

View INTERGROUP CORP Historical chart here