Flywheel Advanced Technology, Inc. Announces Change in Independent Auditor

Key Developments:

• Dismissal of Existing Auditor: Effective April 1, 2026, Flywheel Advanced Technology, Inc. (“the Company”) announced the dismissal of its independent registered public accounting firm, BCRG Group (“BCRG”). This decision was made with the recommendation and approval of the Company’s Board of Directors.
• Appointment of New Auditor: On the same date, the Board of Directors approved the engagement of WSJ And Partners (“WSJ”) as the Company’s new independent registered public accounting firm, effective immediately upon BCRG’s dismissal. WSJ will begin with the review of the Company’s financial statements for the quarter ending March 31, 2026, and will conduct the audit for the fiscal year ending September 30, 2026.
• Audit Opinion: BCRG’s audit reports for the fiscal years ended September 30, 2025, and September 30, 2024, did not contain any adverse opinions, disclaimers of opinion, or qualifications as to audit scope or accounting principles.
• No Disagreements or Reportable Events: There were no disagreements between the Company and BCRG on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure during the fiscal years ended September 30, 2025, and September 30, 2024, and the interim period through March 31, 2026. The only reportable event was the identification of material weaknesses in internal control over financial reporting.
• Internal Control Weaknesses: The Company’s Annual Report on Form 10-K for the year ended September 30, 2025, disclosed material weaknesses in internal controls, specifically:
  • Lack of an independent board of directors or audit committee
  • No written documentation of internal control policies and procedures
  • Financial reporting handled solely by a financial consultant
• No Prior Consultations with New Auditor: The Company and its representatives did not consult with WSJ on the application of accounting principles, auditing issues, or any disagreements or reportable events before their appointment.
• Regulatory Compliance: In accordance with SEC regulations, the Company has provided BCRG with a copy of the disclosure and requested that BCRG furnish a letter stating their agreement or disagreement with the statements made. This letter is attached as an exhibit to the filing.

Implications for Shareholders and Share Price Sensitivity

This change in the Company’s independent auditor is a significant event that investors and shareholders should carefully note for several reasons:

1. Auditor Changes Can Affect Share Price: The appointment of a new audit firm can signal changes in the Company’s financial reporting and oversight. While no disagreements or adverse audit opinions were reported, any transition between auditors may raise questions about historical financial reporting and internal controls.
2. Material Weaknesses in Internal Controls: The Company has acknowledged ongoing material weaknesses in its internal controls over financial reporting, including the lack of an independent board or audit committee and inadequate documentation of internal controls. These issues are critical and could affect the accuracy and reliability of financial statements, potentially impacting investor confidence and share valuation.
3. Potential for Increased Scrutiny: The new auditor, WSJ, may bring a different approach to audit procedures and may require remediation of previously identified weaknesses, leading to possible restatements or additional disclosures. This could introduce volatility or uncertainty around the Company’s future financial reports.

Other Corporate Information

• Company Name: Flywheel Advanced Technology, Inc.
• State of Incorporation: Nevada
• Principal Executive Offices: 123 West Nye Lane, Suite 455, Carson City, NV 89706
• Telephone Number: (852) 6686-0563
• President and CEO: Luk Yuen Leung (also Principal Executive, Financial, and Accounting Officer)
• SEC File Number: 333-167130
• Former Names: Pan Global, Corp. (until 2013), Savvy Business Support Inc. (until 2010), Saavy Business Support Inc. (until 2010)

Exhibits

• Exhibit 16.1: Letter from BCRG Group, dated April 7, 2026, regarding their agreement with the disclosure.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should perform their own due diligence and consult with financial advisors before making investment decisions. Changes in auditor relationships and disclosures of material weaknesses in internal controls can have significant impacts on a company’s financial reporting and share price. The information above is based on public filings and may be subject to further updates or corrections.

View FLYWHEEL ADVANCED TECHNOLOGY, INC. Historical chart here