Finnovate Acquisition Corp. recently announced a regulatory issue concerning its financial reporting. The company disclosed that its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, included unaudited financial statements for the year ended December 31, 2023. This was due to Marcum LLP, the company's former independent registered public accounting firm, notifying Finnovate that it had not completed the necessary audit procedures to issue its audit report. As a result, Marcum did not authorize or sign the audit report included in the 2024 Annual Report. Finnovate intends to file an amended report to correct this deficiency, updating specific sections to include the authorized audit report and new certifications by its principal executive and financial officers. The audit committee and company management have discussed these issues with Marcum.
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