Reno, NV – May 9, 2024 – Winvest Group Limited (OTC: WNLV) (“Winvest”), an investment holding company with diverse media and entertainment portfolios, has taken significant steps in response to recent developments regarding its former independent registered public accounting firm, BF Borgers CPA.
Following charges of “massive fraud” by US regulators against BF Borgers CPA on May 3, 2024, Winvest promptly terminated its engagement with the firm. The Securities and Exchange Commission (SEC) charged BF Borgers and its owner, Benjamin Borgers, with deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards, resulting in a permanent ban from auditing public companies and combined penalties of $14 million.
As a former client of BF Borgers, Winvest promptly sought to secure a new independent registered public accounting firm. Today, the company is pleased to announce the appointment of JWF Assurance PAC, headquartered in Singapore, as its new auditor effective immediately. JWF Assurance has offices in nine cities globally and is certified by the PCAOB to conduct US public company audits.
The decision to change auditors was made in consultation with Winvest’s Audit Committee and in compliance with regulatory requirements. Despite the termination of BF Borgers’ services, it is important to note that their audit reports on Winvest’s financial statements for 2022 and 2023 did not present adverse opinions, and there were no disagreements regarding accounting matters. Currently, the company is not aware of any basis to believe that any previously issued financial statements should not be relied upon because of an error in such financial statements.
In response to these developments, Winvest expressed its commitment to maintaining transparency and integrity in its financial reporting processes. The company is confident in its decision to transition to JWF Assurance and looks forward to working closely with its new auditing partners. Winvest remains dedicated to upholding the highest standards of corporate governance and accountability as it continues to pursue its strategic objectives in the media and entertainment industry.
About Winvest Group Limited:
Winvest Group Limited is an investment holding company specifically focused on media and entertainment, production and filmmaking, as well as marketing and distribution for all projects on domestic and international streaming platforms and media channels. Winvest will develop and manage a diverse range of multilingual film and television projects. For additional information about Winvest and its investment opportunities, please visit http://www.winvestgroup.co.
Investor and Media Contact:
Carmen Chai
Email: [email protected] or [email protected]
Phone: 775-996-0288
