Auditor-Hopping Is Rare, but 13 Small Companies Defy the Trend

Companies switch business strategy, headquarters, or even corporate names. What they don’t often change is the outside firm that vets their books.

Thirteen public companies prove the exception to this rule. These businesses hired and fired auditors more than seven times apiece in the past decade, according to an analysis of data from Ideagen Audit Analytics. They share similar characteristics: their shares all trade below $1 each and some of them are in emerging industries like cannabis. All but one trades over the counter, meaning they don’t meet the minimum financial thresholds to be listed on major exchanges like Nasdaq ...