EV Startup’s Streak With No Auditor Adds to Company’s Woes

May 25, 2022, 8:45 AM UTC

Electric vehicle startup Electric Last Mile Solutions Inc. has a long list of problems: an SEC investigation, a cash crunch, and the resignations of two top executives.

Add the extended lack of an auditor to its woes. The Troy, Mich.-based commercial vehicle maker has been looking for a new auditor for more than three and a half months—20 times the average length it takes a company to replace an auditor, according to research firm Audit Analytics.

The company has gone the longest auditor-less stretch of any public company so far this year, and the second-longest of any company in the ...

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