OSR Health, Inc. announced on November 6, 2026, that Shinhan Accounting Corporation, a member of RSM International, has resigned as the company's independent registered public accounting firm. The resignation is effective immediately. According to the filing, Shinhan cited overdue fees for the audit of the Company’s 2025 financial statements as the reason for the departure, noting that these unpaid amounts may create a self-interest threat to the firm's independence.
The Audit Committee of the Board of Directors accepted the resignation and has initiated the process of engaging a successor firm. The filing details that Shinhan’s reports on the Company’s financial statements for the fiscal years ended December 31, 2025 and 2024 contained no adverse opinions or disclaimers. The reports were not qualified or modified regarding uncertainty, audit scope, or accounting principles, though they did include an explanatory paragraph regarding substantial doubt about the Company’s ability to continue as a going concern.
During the years covered by the audit and through November 6, 2026, there were no disagreements with Shinhan of the type described in Regulation S-K, and no reportable events other than the material weaknesses in internal control over financial reporting disclosed in the Company’s 2025 Annual Report on Form 10-K. The Audit Committee discussed these material weaknesses with Shinhan in March 2026. The Company has authorized Shinhan to respond fully to any inquiries from the successor firm regarding these issues.
A copy of a letter from Shinhan Accounting Corporation to the Securities and Exchange Commission, dated November 11, 2026, is filed as Exhibit 16.1 to this Current Report on Form 8-K.
