Super Micro Computer's leadership changes during financial review.
Reading
Super Micro Computer was reviewed for possible problems. The review found no evidence of bad actions by leaders. Super Micro is looking for new leaders, including a new CFO, and expects its financial reports to be accurate.
Ernst & Young, Super Micro's old accounting firm, had concerns about the company. These concerns were about things like transparency and how money was managed. EY quit as Super Micro's accountant in October, but Super Micro disagreed with EY's decision and hired a new accountant, BDO.
A committee investigated EY's concerns and found no proof to support them. Super Micro says EY's reasons for quitting were wrong. Super Micro's stock went up after they shared this good news.
This year has been hard for Super Micro. In August, Hindenburg Research, a firm that profits when companies do poorly, accused Super Micro of bad accounting. Super Micro said these were just rumors.
The Wall Street Journal and others said that the Justice Department started looking into Super Micro based on these accusations. Despite these challenges, Super Micro is doing well in the growing field of artificial intelligence, with revenue more than doubling in the last year.
Questions
What did the review of Super Micro Computer find?
The review found no evidence of bad actions by leaders.
Why did Ernst & Young quit as Super Micro's accountant?
EY had concerns about transparency and how money was managed.
How is Super Micro doing in the field of artificial intelligence?
Super Micro is doing well, with revenue more than doubling in the last year.
Describe the article image
Look at the article image and describe what you see on it. You may either speak or write your answer there.
Discussion
Discuss this article with your AI tutor to practice. Your tutor will help you with vocabulary and grammar.
discuss it with AI at lingolette.com