Alset Inc. Appoints New Auditor

The company made the switch without any prior disputes or concerns over accounting practices.

July 03, 2025

Audit Firm Transition Finalized

Alset Inc. is making a change behind the scenes. On July 2, the company parted ways with Grassi & Co., its independent public accounting firm, and brought on HTL International to handle its financial audits going forward. The move came at the recommendation of the Audit Committee and was approved by the Board of Directors.

Importantly, there was no fallout. Grassi’s audits for fiscal years 2023 and 2024 were clean—no adverse opinions, disclaimers, or scope limitations. There were no disagreements on accounting matters or financial disclosures, and no reportable events surfaced during their time as auditor. In short, the transition wasn’t prompted by any red flags.

To formalize the change, Alset has asked Grassi to send a letter to the SEC confirming it agrees with the company’s summary of the relationship. That letter has been filed as part of the official disclosure.

HTL International Steps In

HTL International steps in with a blank slate. Alset hasn’t previously worked with the firm on any financial reporting issues or technical consultations. There were no backchannel discussions, no informal advice—just a clear-cut decision to engage a new auditor for the 2025 fiscal year.

This kind of shift is part of how companies keep their financial oversight sharp. By proactively managing audit relationships, Alset aims to maintain strong governance and a steady reporting cadence. The change signals continuity, not disruption—keeping the financial review process on track while aligning with internal oversight decisions.