8-K: Innovative Food Holdings Appoints New Auditor CBIZ

Innovative Food Holdings, Inc. announced a series of auditor changes, culminating in the engagement of CBIZ CPAs P.C. as its new independent registered public accounting firm.

Summary

• Innovative Food Holdings, Inc. (the Company) previously disclosed the resignation of Assurance Dimensions, LLC on April 28, 2025, as Assurance Dimensions exited providing audit services to publicly traded companies.
• Stephano Slack LLC was engaged on April 28, 2025, to review the Company's quarterly reports for the periods ending March 31, 2025, and June 30, 2025.
• Following a request for proposal (RFP) process, Stephano Slack LLC was dismissed as the independent registered public accounting firm effective September 17, 2025.
• During the interim periods and through September 17, 2025, there were no disagreements or reportable events between the Company and Stephano Slack LLC.
• On September 22, 2025, the Company engaged CBIZ CPAs P.C. (CBIZ) as its new independent registered public accounting firm, with the approval of the Audit Committee.
• Neither the Company nor anyone on its behalf consulted with CBIZ regarding accounting principles, audit opinions, disagreements, or reportable events for the fiscal years ended December 31, 2024, and December 31, 2023, and through September 22, 2025.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While multiple auditor changes could be a concern, the filing provides clear, non-contentious reasons for each change, including an RFP process and explicit statements of no disagreements or reportable events. The engagement of a new, reputable firm like CBIZ, approved by the Audit Committee, suggests a structured and compliant transition.

Positives

• The Company conducted an RFP process to evaluate various registered public accounting firms, indicating due diligence in selecting an auditor.
• There were no disagreements or reportable events with Stephano Slack LLC during their engagement, as confirmed by both the Company and Stephano Slack LLC.
• The engagement of CBIZ CPAs P.C. was approved by the Audit Committee of the Company's Board of Directors, demonstrating proper corporate governance.

Negatives

• The Company experienced multiple auditor changes within a relatively short period, which could potentially raise questions about audit firm stability, although the reasons provided mitigate this concern.

Risks

• Frequent changes in independent registered public accounting firms, even with explanations, can sometimes be perceived as a risk by investors, potentially leading to increased scrutiny of financial reporting processes.
• The transition to a new auditor may involve a learning curve for CBIZ, which could, in some scenarios, impact the efficiency or timing of future audit procedures, though no such impact is indicated in the filing.

Future Outlook

CBIZ CPAs P.C. has been engaged as the new independent registered public accounting firm for the Company's ongoing audit needs.

Management Comments

• Robert W. (Bill) Bennett, Chief Executive Officer, signed the report on behalf of Innovative Food Holdings, Inc.

Industry Context

Changes in audit firms can occur due to various reasons, including an audit firm's strategic decision to exit certain market segments (as with Assurance Dimensions) or a company's proactive RFP process to ensure optimal audit services. The engagement of a new firm like CBIZ, a well-established accounting firm, is a common practice in the industry.

Corporate Governance

Stakeholder Impact

• Shareholders: The change in auditors, particularly without any reported disagreements or reportable events, should provide assurance regarding the continuity and integrity of financial reporting.
• Regulatory Authorities: The detailed disclosure of auditor changes and the confirmation from the former auditor comply with SEC regulations, maintaining transparency.

Next Steps

• CBIZ CPAs P.C. will serve as the independent registered public accounting firm for Innovative Food Holdings, Inc. for its ongoing audit needs.

Key Dates

Recommendation

The filing details an administrative change in the company's independent registered public accounting firm. There are no financial results, strategic updates, or material operational changes disclosed that would warrant a change in investment thesis. The reasons for the auditor changes are clearly explained, and the absence of disagreements or reportable events with the previous auditor, coupled with the Audit Committee's approval of the new firm, suggests a well-managed transition. Therefore, an investor would likely maintain their current position based solely on this filing.

Keywords

Auditor Change, Accounting Firm, SEC Filing, Form 8-K, Corporate Governance, Innovative Food Holdings, CBIZ, Stephano Slack, Assurance Dimensions