Analyst Summary
- Magnachip Semiconductor Corporation is changing its independent registered public accounting firm from Samil PricewaterhouseCoopers (Samil PWC) to Ernst & Young Han Young (E&Y).
- The Audit Committee approved the dismissal of Samil PWC effective upon the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
- The engagement of E&Y is effective following the completion of Samil PWC’s engagement and contingent upon the execution of a satisfactory engagement letter with the Company.
- Samil PWC’s reports on the company’s consolidated financial statements as of December 31, 2024 and December 31, 2023 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles.
- There were no disagreements or reportable events with Samil PWC during the fiscal years ended December 31, 2024 and December 31, 2023 and the subsequent period through March 14, 2025.
- The company has received a letter from Samil PWC agreeing with the disclosures made in the Form 8-K/A.