Company: FOXX
Filing Date: 2025-05-06
Form Type: 8-K
Source: 0001213900-25-040241
Chunk: 1

Company: Foxx Development Holdings Inc.
Filing Date: 2025-05-06
Form: 8-K
Item: Item 4.01
Chunk 1
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  Foxx Development’s internal controls over financial reporting related to the design or operation of internal controls which could               
  adversely affect its ability to record, process, summarize, and report financial data including: (i) lack of sufficient segregation of          
  duties due to limited resources, (ii) lack of adequate design of controls and proper documentation needed in order to demonstrate that          
  controls in place are operating effectively for significant transaction classes, (iii) inability to prepare complete and accurate financial     
  statements in accordance with generally accepted accounting principle (“ GAAP) in a timely manner, (iv) inefficient oversight of                
  those charged with governance with respect to complete and accurate finance reporting, (v) lack of appropriate controls surrounding authorized  
  signor access for bank accounts, and (vi) inappropriate implementation of controls over the identification of related party transactions,       
  which were identified in connection with the Foxx Development’s preparation of its financial statements for the year ended June                 
  30, 2024.                                                                                                                                       
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The Company provided Marcum with a copy of the disclosure it is making
herein in response to Item 304(a) of Regulation S-K, and requested that Marcum furnish the Company with a copy of its letter addressed
to the SEC, pursuant to Item 304(a)(3) of Regulation S-K, stating whether or not Marcum agrees with the statements related to them made
by the Company in this report. A copy of Marcum’s letter to the SEC dated May 1, 2025 is attached as Exhibit 16.1 to this report.

(b) Newly Engaged Independent Registered Public Accounting Firm

The Audit Committee approved the appointment of CBIZ CPAs P. C. ("CBIZ")
as the Company’s new independent registered public accounting firm on May 1, 2025, with immediate effect, for the fiscal year ending June
30, 2025. During the fiscal years ended June 30, 2024 and the subsequent interim period through May 1, 2025, neither the Company, nor
anyone on its behalf, consulted CBIZ regarding either (i) the application of accounting principles to a specified transaction, either
completed or proposed, or the type of audit opinion that might be rendered with respect to the consolidated financial statements of the
Company, and no written report or oral advice was provided to the Company by CBIZ that was an