Item 4.01 Changes in Registrant’s Certifying
Accountant.
(a) On August 24, 2022, BDO USA, LLP (“BDO”)
informed Genie Energy Ltd. (the “Company”) that it was resigning as the Company’s independent registered public accounting
firm.
BDO’s report on the Company’s consolidated financial statements
as of December 31, 2021 and 2020 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.
During the years ended December 31, 2021 and 2020, and the subsequent
interim period through August 24, 2022, there were no disagreements between the Company and BDO on any matter of accounting principles
or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction
of BDO, would have caused BDO to make reference to the subject matter of the disagreements in connection with its report on the Company’s
financial statements for such periods.
Other than as set forth below, during the years ended December 31,
2021 and 2020, and the subsequent interim period through August 24, 2022, there were no “reportable events”, as defined in
Regulation S-K Item 304(a)(1)(v).
As previously disclosed, in evaluating the effectiveness of disclosure
controls and procedures and the Company’s internal control over financial reporting, management concluded that deficiencies in the
design and operating effectiveness of the Company’s internal controls represented a material weakness in the Company’s internal
control over financial reporting and, therefore, that the Company did not maintain effective disclosure controls and procedures or internal
control over financial reporting as of December 31, 2020, March 31, 2021, June 30, 2021, September 30, 2021, December 31, 2021, March
31, 2022 and June 30, 2022. The reported material weakness was as follows:
The Company reported in its Annual Report on Form 10-K as of December
31, 2020, a material weakness in internal control specifically related to management's review of the income tax provision. During
2021, the Company implemented certain remediation measures related to the material weakness, however, the Company concluded that its internal
control over financial reporting was ineffective as of December 31, 2021. The weakness will not be considered remediated, until the applicable
controls operate for a sufficient period of time and management has concluded, through testing, that these controls are operating effectively.
The Company expects that the remediation of this material weakness will be completed in 2022.
The Company has provided BDO with a copy of the
above disclosures and is requesting that BDO furnish the Company with a letter addressed to the Securities and Exchange Commission stating
whether it agrees with the foregoing statements and, if not, stating the respects in which it does not agree. A copy of BDO’s letter,
dated August 30, 2022, is attached as Exhibit 16.1 to this Form 8-K.