Gencor Industries Hit by Material Weakness in Internal Controls
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Gencor Industries Inc. has switched its independent registered public accounting firm from Berkowitz Pollack Brant Advisors + CPAs, LLP to Carr, Riggs & Ingram, L.L.C. due to CRI's acquisition of BPB assets. Although BPB's audit reports for fiscal years 2024 and 2025 did not contain adverse opinions on Gencor's financial statements, they did issue adverse opinions regarding the effectiveness of Gencor's internal controls, citing material weaknesses in IT general controls, including user access and program change management. These issues were disclosed in Gencor's SEC annual reports.
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