[8-K] Viasat Inc Reports Material Event
Concorde International Group Ltd (CIGL) filed a Form 6-K announcing an auditor change effective 1 Aug 2025. The Audit Committee dismissed Kreit & Chiu CPA LLP, whose 2023-24 audit opinions were unqualified and contained no scope or GAAP reservations. The firm reported no disagreements with management over accounting matters during the past two fiscal years.
The Committee simultaneously appointed Assentsure PAC to audit FY 2025 and review the 1H-2025 results. The Company confirms Assentsure was not previously consulted on any accounting or reporting issues.
While there were no reportable events tied to Kreit & Chiu, the filing reiterates previously disclosed material weaknesses in internal control over financial reporting鈥攃hiefly segregation-of-duties gaps, insufficient IFRS training, and ineffective review controls. Kreit & Chiu鈥檚 letter to the SEC agreeing with these disclosures is filed as Exhibit 15.1.
The change signals a governance shift but keeps the audit timeline intact; investors should monitor remediation of the cited control weaknesses ahead of the FY 2025 audit.
Concorde International Group Ltd (CIGL) ha presentato un Modulo 6-K annunciando un cambio di revisore con effetto dal 1掳 agosto 2025. Il Comitato di Revisione ha revocato l'incarico a Kreit & Chiu CPA LLP, i cui pareri di revisione per il 2023-24 erano senza rilievi e non contenevano riserve di portata o di principi contabili internazionali (GAAP). Lo studio non ha riportato disaccordi con la direzione su questioni contabili negli ultimi due esercizi fiscali.
Contestualmente, il Comitato ha nominato Assentsure PAC per la revisione del bilancio dell'esercizio 2025 e per la revisione dei risultati del primo semestre 2025. La Societ脿 conferma che Assentsure non 猫 stata precedentemente consultata su questioni contabili o di rendicontazione.
Pur non essendoci eventi segnalabili legati a Kreit & Chiu, il documento ribadisce debolezze materiali nel controllo interno sulla rendicontazione finanziaria, principalmente lacune nella segregazione dei compiti, formazione IFRS insufficiente e controlli di revisione inefficaci. La lettera di Kreit & Chiu alla SEC, che concorda con queste dichiarazioni, 猫 allegata come Exhibit 15.1.
Il cambiamento indica una svolta nella governance, ma mantiene il calendario di revisione invariato; gli investitori dovrebbero monitorare la correzione delle debolezze di controllo segnalate prima della revisione del 2025.
Concorde International Group Ltd (CIGL) present贸 un Formulario 6-K anunciando un cambio de auditor efectivo a partir del 1 de agosto de 2025. El Comit茅 de Auditor铆a destituy贸 a Kreit & Chiu CPA LLP, cuyas opiniones de auditor铆a para 2023-24 fueron sin salvedades y no conten铆an reservas de alcance ni de principios contables GAAP. La firma inform贸 no haber tenido desacuerdos con la administraci贸n sobre asuntos contables en los 煤ltimos dos a帽os fiscales.
Simult谩neamente, el Comit茅 nombr贸 a Assentsure PAC para auditar el a帽o fiscal 2025 y revisar los resultados del primer semestre de 2025. La Compa帽铆a confirma que Assentsure no fue consultada previamente sobre ning煤n tema contable o de reporte.
Aunque no hubo eventos reportables relacionados con Kreit & Chiu, el documento reitera debilidades materiales en el control interno sobre la informaci贸n financiera, principalmente brechas en la segregaci贸n de funciones, capacitaci贸n insuficiente en IFRS y controles de revisi贸n ineficaces. La carta de Kreit & Chiu a la SEC, en la que est谩n de acuerdo con estas revelaciones, se presenta como Exhibit 15.1.
El cambio se帽ala un giro en la gobernanza pero mantiene el calendario de auditor铆a intacto; los inversores deben monitorear la correcci贸n de las debilidades de control mencionadas antes de la auditor铆a del a帽o fiscal 2025.
Concorde International Group Ltd (CIGL)臧� 2025雲� 8鞗� 1鞚茧秬搿� 臧愳偓鞚� 氤�瓴�鞚� 氚滍憸頃橂姅 Form 6-K毳� 鞝滌稖頄堨姷雼堧嫟. 臧愳偓鞙勳洂須岆姅 2023-24 須岅硠鞐半弰鞐� 氍挫瀽瓴� 鞚橁铂鞚� 鞝滌嫓頃橁碃 氩旍渼 鞝滍暅鞚措倶 GAAP 鞙犽炒靷暛鞚� 鞐嗢棃雿� Kreit & Chiu CPA LLP毳� 頃挫瀯頄堨姷雼堧嫟. 頃措嫻 氩曥澑鞚� 歆�雮� 霊� 須岅硠鞐半弰 霃欖晥 瓴届榿歆勱臣 須岅硠 氍胳牅鞐� 雽�頃� 鞚搓铂鞚� 鞐嗢棃雼�瓿� 氤搓碃頄堨姷雼堧嫟.
鞙勳洂須岆姅 霃欖嫓鞐� 2025 須岅硠鞐半弰 臧愳偓 氚� 2025雲� 靸侂皹旮� 鞁れ爜 瓴�韱犽ゼ 鞙勴暣 Assentsure PAC毳� 靹犾瀯頄堨姷雼堧嫟. 須岇偓電� Assentsure臧� 鞚挫爠鞐� 須岅硠雮� 氤搓碃 氍胳牅鞐� 雽�頃� 鞛愲鞚� 氚涭潃 鞝侅澊 鞐嗠嫟瓿� 頇曥澑頄堨姷雼堧嫟.
Kreit & Chiu鞕� 甏�霠悳 氤搓碃 雽�靸� 靷贝鞚� 鞐嗢棃歆�毵�, 鞝滌稖 靹滊電� 雮措秬 須岅硠 韱奠牅鞚� 欷戨寑頃� 鞎届爯鈥旍＜搿� 鞐呺 攵勲Μ 氙鸽箘, IFRS 甑愳湣 攵�臁�, 牍勴毃鞙爜鞚� 瓴�韱� 韱奠牅毳� 鞛皑 氇呾嫓頃橁碃 鞛堨姷雼堧嫟. Kreit & Chiu臧� 鞚� 雮挫毄鞚� 霃欖潣頃橂姅 SEC 鞝滌稖 靹滍暅鞚� Exhibit 15.1搿� 觳秬霅橃柎 鞛堨姷雼堧嫟.
鞚措矆 氤�瓴届潃 瓯半矂雱岇姢 氤�頇� 鞁犿樃鞚挫毵� 臧愳偓 鞚检爼鞚� 鞙犾霅橂┌, 韴瀽鞛愲摛鞚� 2025 須岅硠鞐半弰 臧愳偓 鞝勳棎 歆�鞝侂悳 韱奠牅 鞎届爯 臧滌劆鞚� 欤检嫓頃挫暭 頃╇媹雼�.
Concorde International Group Ltd (CIGL) a d茅pos茅 un formulaire 6-K annon莽ant un changement d鈥檃uditeur effectif au 1er ao没t 2025. Le comit茅 d鈥檃udit a r茅voqu茅 Kreit & Chiu CPA LLP, dont les opinions d鈥檃udit pour 2023-24 茅taient sans r茅serve et ne comportaient aucune restriction de port茅e ni r茅serve GAAP. Le cabinet a d茅clar茅 n鈥檃voir eu aucun d茅saccord avec la direction sur des questions comptables au cours des deux derniers exercices fiscaux.
Le comit茅 a simultan茅ment nomm茅 Assentsure PAC pour auditer l鈥檈xercice 2025 et examiner les r茅sultats du premier semestre 2025. La soci茅t茅 confirme qu鈥橝ssentsure n鈥檃 pas 茅t茅 consult茅e auparavant sur des questions comptables ou de reporting.
Bien qu鈥檃ucun 茅v茅nement signalable li茅 脿 Kreit & Chiu n鈥檃it 茅t茅 identifi茅, le d茅p么t r茅it猫re les faiblesses importantes pr茅c茅demment divulgu茅es dans le contr么le interne relatif aux rapports financiers 鈥� principalement des lacunes dans la s茅paration des fonctions, une formation IFRS insuffisante et des contr么les de revue inefficaces. La lettre de Kreit & Chiu 脿 la SEC approuvant ces divulgations est jointe en tant qu鈥橢xhibit 15.1.
Ce changement indique une 茅volution de la gouvernance tout en maintenant le calendrier d鈥檃udit ; les investisseurs doivent surveiller la correction des faiblesses de contr么le identifi茅es avant l鈥檃udit de l鈥檈xercice 2025.
Concorde International Group Ltd (CIGL) hat ein Formular 6-K eingereicht, in dem ein Wechsel des Abschlusspr眉fers zum 1. August 2025 angek眉ndigt wird. Der Pr眉fungsausschuss hat Kreit & Chiu CPA LLP entlassen, dessen Pr眉fungsurteile f眉r 2023-24 uneingeschr盲nkt waren und keine Einschr盲nkungen im Umfang oder bei den GAAP enthielten. Das Unternehmen berichtete, dass es in den letzten zwei Gesch盲ftsjahren keine Meinungsverschiedenheiten mit dem Management bez眉glich Rechnungslegungsfragen gab.
Gleichzeitig wurde Assentsure PAC mit der Pr眉fung f眉r das Gesch盲ftsjahr 2025 und der 脺berpr眉fung der Halbjahresergebnisse 2025 beauftragt. Das Unternehmen best盲tigt, dass Assentsure vorher nicht zu buchhalterischen oder berichtsbezogenen Fragestellungen konsultiert wurde.
Obwohl es keine meldepflichtigen Ereignisse im Zusammenhang mit Kreit & Chiu gab, wiederholt die Einreichung zuvor offengelegte wesentliche Schw盲chen in der internen Kontrolle 眉ber die Finanzberichterstattung 鈥� vor allem L眉cken in der Aufgaben-Trennung, unzureichende IFRS-Schulungen und ineffektive Pr眉fkontrollen. Das Schreiben von Kreit & Chiu an die SEC, in dem diesen Angaben zugestimmt wird, ist als Exhibit 15.1 beigef眉gt.
Der Wechsel signalisiert eine 脛nderung in der Governance, h盲lt aber den Pr眉fungszeitplan ein; Investoren sollten die Behebung der genannten Kontrollschw盲chen vor der Pr眉fung f眉r das Gesch盲ftsjahr 2025 beobachten.
- Clean prior audit opinions from Kreit & Chiu with no disagreements signal reliable historical financials.
- Orderly auditor transition approved by Audit Committee minimizes reporting disruption.
- Successor auditor appointed promptly, covering FY 2025 and H1-2025 reviews.
- Material weaknesses in internal control over financial reporting remain unresolved.
- Auditor change can introduce execution risk and higher audit costs.
- Repeated control deficiencies may attract regulatory or investor scrutiny.
Insights
TL;DR: Auditor switch is routine; control weaknesses linger鈥攏et neutral to slightly negative risk profile.
Kreit & Chiu鈥檚 clean opinions limit historical risk, and the absence of disputes reduces red-flag concerns. However, management still faces three material control deficiencies that could affect FY 2025 reporting quality. The move to Assentsure may improve oversight, yet any audit re-scoping could lengthen timelines or raise fees. Until remediation plans are disclosed, the filing is moderately negative for risk-adjusted valuation.
TL;DR: Governance optics mixed鈥攐rderly transition, but unresolved ICFR weaknesses hurt credibility.
The Board followed best practice鈥擜udit Committee initiated change, secured successor before year-end cycles, and disclosed SEC-required items, including an agreeing letter from the former auditor. Still, repeating material weaknesses for a third year points to structural oversight issues. Successful remediation and a clean 2025 opinion would be credit-positive; failure could trigger listing or regulatory scrutiny.
Concorde International Group Ltd (CIGL) ha presentato un Modulo 6-K annunciando un cambio di revisore con effetto dal 1掳 agosto 2025. Il Comitato di Revisione ha revocato l'incarico a Kreit & Chiu CPA LLP, i cui pareri di revisione per il 2023-24 erano senza rilievi e non contenevano riserve di portata o di principi contabili internazionali (GAAP). Lo studio non ha riportato disaccordi con la direzione su questioni contabili negli ultimi due esercizi fiscali.
Contestualmente, il Comitato ha nominato Assentsure PAC per la revisione del bilancio dell'esercizio 2025 e per la revisione dei risultati del primo semestre 2025. La Societ脿 conferma che Assentsure non 猫 stata precedentemente consultata su questioni contabili o di rendicontazione.
Pur non essendoci eventi segnalabili legati a Kreit & Chiu, il documento ribadisce debolezze materiali nel controllo interno sulla rendicontazione finanziaria, principalmente lacune nella segregazione dei compiti, formazione IFRS insufficiente e controlli di revisione inefficaci. La lettera di Kreit & Chiu alla SEC, che concorda con queste dichiarazioni, 猫 allegata come Exhibit 15.1.
Il cambiamento indica una svolta nella governance, ma mantiene il calendario di revisione invariato; gli investitori dovrebbero monitorare la correzione delle debolezze di controllo segnalate prima della revisione del 2025.
Concorde International Group Ltd (CIGL) present贸 un Formulario 6-K anunciando un cambio de auditor efectivo a partir del 1 de agosto de 2025. El Comit茅 de Auditor铆a destituy贸 a Kreit & Chiu CPA LLP, cuyas opiniones de auditor铆a para 2023-24 fueron sin salvedades y no conten铆an reservas de alcance ni de principios contables GAAP. La firma inform贸 no haber tenido desacuerdos con la administraci贸n sobre asuntos contables en los 煤ltimos dos a帽os fiscales.
Simult谩neamente, el Comit茅 nombr贸 a Assentsure PAC para auditar el a帽o fiscal 2025 y revisar los resultados del primer semestre de 2025. La Compa帽铆a confirma que Assentsure no fue consultada previamente sobre ning煤n tema contable o de reporte.
Aunque no hubo eventos reportables relacionados con Kreit & Chiu, el documento reitera debilidades materiales en el control interno sobre la informaci贸n financiera, principalmente brechas en la segregaci贸n de funciones, capacitaci贸n insuficiente en IFRS y controles de revisi贸n ineficaces. La carta de Kreit & Chiu a la SEC, en la que est谩n de acuerdo con estas revelaciones, se presenta como Exhibit 15.1.
El cambio se帽ala un giro en la gobernanza pero mantiene el calendario de auditor铆a intacto; los inversores deben monitorear la correcci贸n de las debilidades de control mencionadas antes de la auditor铆a del a帽o fiscal 2025.
Concorde International Group Ltd (CIGL)臧� 2025雲� 8鞗� 1鞚茧秬搿� 臧愳偓鞚� 氤�瓴�鞚� 氚滍憸頃橂姅 Form 6-K毳� 鞝滌稖頄堨姷雼堧嫟. 臧愳偓鞙勳洂須岆姅 2023-24 須岅硠鞐半弰鞐� 氍挫瀽瓴� 鞚橁铂鞚� 鞝滌嫓頃橁碃 氩旍渼 鞝滍暅鞚措倶 GAAP 鞙犽炒靷暛鞚� 鞐嗢棃雿� Kreit & Chiu CPA LLP毳� 頃挫瀯頄堨姷雼堧嫟. 頃措嫻 氩曥澑鞚� 歆�雮� 霊� 須岅硠鞐半弰 霃欖晥 瓴届榿歆勱臣 須岅硠 氍胳牅鞐� 雽�頃� 鞚搓铂鞚� 鞐嗢棃雼�瓿� 氤搓碃頄堨姷雼堧嫟.
鞙勳洂須岆姅 霃欖嫓鞐� 2025 須岅硠鞐半弰 臧愳偓 氚� 2025雲� 靸侂皹旮� 鞁れ爜 瓴�韱犽ゼ 鞙勴暣 Assentsure PAC毳� 靹犾瀯頄堨姷雼堧嫟. 須岇偓電� Assentsure臧� 鞚挫爠鞐� 須岅硠雮� 氤搓碃 氍胳牅鞐� 雽�頃� 鞛愲鞚� 氚涭潃 鞝侅澊 鞐嗠嫟瓿� 頇曥澑頄堨姷雼堧嫟.
Kreit & Chiu鞕� 甏�霠悳 氤搓碃 雽�靸� 靷贝鞚� 鞐嗢棃歆�毵�, 鞝滌稖 靹滊電� 雮措秬 須岅硠 韱奠牅鞚� 欷戨寑頃� 鞎届爯鈥旍＜搿� 鞐呺 攵勲Μ 氙鸽箘, IFRS 甑愳湣 攵�臁�, 牍勴毃鞙爜鞚� 瓴�韱� 韱奠牅毳� 鞛皑 氇呾嫓頃橁碃 鞛堨姷雼堧嫟. Kreit & Chiu臧� 鞚� 雮挫毄鞚� 霃欖潣頃橂姅 SEC 鞝滌稖 靹滍暅鞚� Exhibit 15.1搿� 觳秬霅橃柎 鞛堨姷雼堧嫟.
鞚措矆 氤�瓴届潃 瓯半矂雱岇姢 氤�頇� 鞁犿樃鞚挫毵� 臧愳偓 鞚检爼鞚� 鞙犾霅橂┌, 韴瀽鞛愲摛鞚� 2025 須岅硠鞐半弰 臧愳偓 鞝勳棎 歆�鞝侂悳 韱奠牅 鞎届爯 臧滌劆鞚� 欤检嫓頃挫暭 頃╇媹雼�.
Concorde International Group Ltd (CIGL) a d茅pos茅 un formulaire 6-K annon莽ant un changement d鈥檃uditeur effectif au 1er ao没t 2025. Le comit茅 d鈥檃udit a r茅voqu茅 Kreit & Chiu CPA LLP, dont les opinions d鈥檃udit pour 2023-24 茅taient sans r茅serve et ne comportaient aucune restriction de port茅e ni r茅serve GAAP. Le cabinet a d茅clar茅 n鈥檃voir eu aucun d茅saccord avec la direction sur des questions comptables au cours des deux derniers exercices fiscaux.
Le comit茅 a simultan茅ment nomm茅 Assentsure PAC pour auditer l鈥檈xercice 2025 et examiner les r茅sultats du premier semestre 2025. La soci茅t茅 confirme qu鈥橝ssentsure n鈥檃 pas 茅t茅 consult茅e auparavant sur des questions comptables ou de reporting.
Bien qu鈥檃ucun 茅v茅nement signalable li茅 脿 Kreit & Chiu n鈥檃it 茅t茅 identifi茅, le d茅p么t r茅it猫re les faiblesses importantes pr茅c茅demment divulgu茅es dans le contr么le interne relatif aux rapports financiers 鈥� principalement des lacunes dans la s茅paration des fonctions, une formation IFRS insuffisante et des contr么les de revue inefficaces. La lettre de Kreit & Chiu 脿 la SEC approuvant ces divulgations est jointe en tant qu鈥橢xhibit 15.1.
Ce changement indique une 茅volution de la gouvernance tout en maintenant le calendrier d鈥檃udit ; les investisseurs doivent surveiller la correction des faiblesses de contr么le identifi茅es avant l鈥檃udit de l鈥檈xercice 2025.
Concorde International Group Ltd (CIGL) hat ein Formular 6-K eingereicht, in dem ein Wechsel des Abschlusspr眉fers zum 1. August 2025 angek眉ndigt wird. Der Pr眉fungsausschuss hat Kreit & Chiu CPA LLP entlassen, dessen Pr眉fungsurteile f眉r 2023-24 uneingeschr盲nkt waren und keine Einschr盲nkungen im Umfang oder bei den GAAP enthielten. Das Unternehmen berichtete, dass es in den letzten zwei Gesch盲ftsjahren keine Meinungsverschiedenheiten mit dem Management bez眉glich Rechnungslegungsfragen gab.
Gleichzeitig wurde Assentsure PAC mit der Pr眉fung f眉r das Gesch盲ftsjahr 2025 und der 脺berpr眉fung der Halbjahresergebnisse 2025 beauftragt. Das Unternehmen best盲tigt, dass Assentsure vorher nicht zu buchhalterischen oder berichtsbezogenen Fragestellungen konsultiert wurde.
Obwohl es keine meldepflichtigen Ereignisse im Zusammenhang mit Kreit & Chiu gab, wiederholt die Einreichung zuvor offengelegte wesentliche Schw盲chen in der internen Kontrolle 眉ber die Finanzberichterstattung 鈥� vor allem L眉cken in der Aufgaben-Trennung, unzureichende IFRS-Schulungen und ineffektive Pr眉fkontrollen. Das Schreiben von Kreit & Chiu an die SEC, in dem diesen Angaben zugestimmt wird, ist als Exhibit 15.1 beigef眉gt.
Der Wechsel signalisiert eine 脛nderung in der Governance, h盲lt aber den Pr眉fungszeitplan ein; Investoren sollten die Behebung der genannten Kontrollschw盲chen vor der Pr眉fung f眉r das Gesch盲ftsjahr 2025 beobachten.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
(Exact Name of Registrant as Specified in its Charter)
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| (State or Other Jurisdiction of Incorporation) |
(Commission File No.) | (I.R.S. Employer Identification No.) |
(Address of Principal Executive Offices, Including Zip Code)
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| (Title of Each Class) |
(Trading Symbol) |
(Name of Each Exchange on which Registered) | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02 | Results of Operations and Financial Condition. |
On August 5, 2025, Viasat, Inc. released its financial results for the first quarter of fiscal year 2026 in a letter to shareholders that is available on the investor relations section of its website. A copy of the press release announcing the release of financial results is furnished herewith as Exhibit 99.1 and a copy of the letter to shareholders is furnished herewith as Exhibit 99.2.
The information contained herein and in the accompanying exhibits shall not be incorporated by reference into any filing of the registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to such filing. The information in this report, including the exhibit hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit Number |
Description of Exhibit | |
| 99.1 | Press Release dated August 5, 2025 issued by Viasat, Inc. | |
| 99.2 | Viasat, Inc. first quarter of fiscal year 2026 letter to shareholders dated August 5, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: August 5, 2025 | Viasat, Inc. | |||
| By: | /s/ Brett Church | |||
| Brett Church | ||||
| Associate General Counsel | ||||
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Source:
FAQ
Why did CIGL change its auditor in August 2025?
Were there any issues with Kreit & Chiu's prior audits of CIGL?
What internal control weaknesses does Concorde International still have?
Will the audit timeline for FY 2025 be impacted?
Did Assentsure provide prior consulting to CIGL?
