Maquia Capital Acquisition Corporation recently announced a change in their certifying accountants, with CBIZ CPAs being appointed as the new independent registered public accounting firm following the resignation of Marcum LLP on May 29, 2025. This transition occurred after CBIZ CPAs acquired the attest business of Marcum in late 2024. The financial reports for 2022 and 2023, previously audited by Marcum, highlighted concerns regarding Maquia's ability to continue as a going concern and identified material weaknesses in internal controls. Specifically, these weaknesses pertained to the management of complex financial instruments, income tax reporting, and oversight relating to compliance with investment management trust agreements. Despite these challenges, there were no disagreements or reportable events between Marcum and Maquia during their tenure. The company aims to address these issues under the guidance of their new accountants.
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