Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 244

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 16F
Chunk 244
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ITEM 16F. CHANGE IN REGISTRANT’ S CERTIFYING
ACCOUNTANT

On February 27, 2024, Marcum
LLP was dismissed as the independent registered public accounting firm for SPAC. The decision to dismiss Marcum LLP was approved by the
audit committee of the board of directors of SPAC.

During the year ended December
31, 2022, the period from May 20, 2021 (inception) through December 31, 2021 and the subsequent interim period through February 27, 2024,
(i) there were no disagreements between SPAC and Marcum LLP on any matter of accounting principles or practices, financial statement disclosure,
or auditing scope or procedures, which disagreements, if not resolved to their satisfaction, would have caused Marcum LLP to make reference
to such disagreements in its report on the financial statements for such years; and (ii) there were no “reportable events”
as such term is defined in Item 304(a)(1)(v) of Regulation S-K), except for the following:

Marcum LLP advised SPAC,
and SPAC’s management concurred, that the following material weaknesses in internal control over financial reporting existed as
of September 30, 2023 (which have been disclosed in the Quarterly Report for the quarter ended September 30, 2023 of SPAC):

  a failure to record accounting transactions in the proper  

  a failure to properly account and disclose of complex financial                                                                           

  a failure to timely reconcile accrued legal expenses and  

  a failure to estimate the fair value of complex financial                                    

The audit committee discussed
the reportable events with Marcum LLP. SPAC has authorized Marcum LLP to respond fully to the inquiries of Marcum Asia CPAs LLP,
as successor auditor, concerning the subject matter of the reportable events.

The report of Marcum LLP
on SPAC’s balance sheets as of December 31, 2022 and 2021, and the related statements of operations, changes in shareholders’
deficit and cash flows for the year ended December 31, 2022 and for the period from May 20, 2021 (inception) through December 31, 2021,
did not contain an adverse opinion or a disclaimer of opinion, nor was it qualified or modified as to uncertainty, audit scope or accounting
principles, except that such report contained an explanatory paragraph which noted that there was substantial doubt as to SPAC’s
ability to