BEIJING, April 29,
2022 /PRNewswire/ -- Yiren Digital Ltd. (NYSE:
YRD) ("Yiren Digital" or the "Company"), a leading digital personal
financial management platform in China, today announced that, effective as of
April 28, 2022, the Company engaged
Wei, Wei & Co., LLP ("WWC"), as the Company's independent
registered public accounting firm, to replace KPMG Huazhen LLP ("KPMG"). The change of the
Company's independent registered public accounting firm was
approved by the audit committee and the board of the Company.
WWC is engaged to audit and report on the consolidated financial
statements of the Company for the year ended December 31, 2021.
KPMG has served as the Company's independent registered public
accounting firm since December 13,
2021 and has never issued an audit report on the
Company's consolidated financial statements.
During the service period, there were no (i) disagreements
between the Company and KPMG on any matter of accounting principles
or practices, financial statement disclosure, or audit scope or
procedure, which disagreements if not resolved to the satisfaction
of KPMG would have caused them to make reference in connection with
their opinion to the subject matter of the disagreement, or (ii)
reportable events pursuant to Item 16F(a)(1)(v) of the instructions
to Form 20-F, except that KPMG has questioned the Company, subject
to further evidence and assessments, as to whether certain
entities, which had not been disclosed to KPMG by the Company as
related parties, should be deemed as the Company's related parties.
Such matters may have a pervasive impact on the disclosures of
related party transactions and certain other financial statement
captions including revenues and expenses. At the time of KPMG's
dismissal, the Company did not provide adequate information for
KPMG to resolve the abovementioned matters to their satisfaction.
KPMG also advised the Company that it would have been necessary to
expand significantly the scope of its audit and if it had expanded
the scope of that audit, information may have come to their
attention that, if further investigated, may have materially
impacted the fairness or reliability of the financial statements to
be issued. Due to their dismissal, the scope of the audit was not
able to be expanded. No conclusions were reached before the Company
dismissed KPMG as its independent registered public accounting
firm.
We have provided KPMG with a copy of the disclosures hereunder
and requested from KPMG a letter addressed to the SEC indicating
whether it agrees with such disclosures. A copy of KPMG's letter
dated April 29, 2022 will be
disclosed on the Form 6-K furnished to the SEC on the same
date.
About Yiren Digital
Yiren Digital Ltd. is a leading digital personal financial
management platform in China. The
Company provides customized asset allocation services and wealth
management solutions to China's
mass affluent population as well as utilizes online and offline
channels to provide retail credit facilitation services to
individual borrowers and small business owners.
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SOURCE Yiren Digital