1. XTM Inc. updates on CPAB enforcement notice regarding auditor issues. 2. CPAB found violations related to auditor, affecting financial statement review. 3. Auditor is prohibited from taking new reporting issuer clients currently. 4. Ongoing remediation plan is in place; updates expected in Q4 2025. 5. Company remains fully operational and transparent with stakeholders.
The enforcement notice indicates serious auditor issues which may undermine investor confidence and compliance. Historical instances show auditor problems can lead to stock price declines, e.g., Overstock.com in 2020.
The auditor's issues and the related enforcement notice could directly impact investor confidence and stock performance. The remediation process's transparency will be crucial for future price stability.
Immediate market perception could be negatively affected by this news, but it may stabilize post-remediation. Similar cases often see initial dips followed by recovery once clarity is restored.
XTM Inc. (DBA AnyDay) (the "Company") (CSE:PAID), a leading fintech innovator in automated tip pooling, instant payouts, and Earned Wage Access ("EWA") through its AnyDay™ platform, wishes to update stakeholders on a notice recently issued by the Canadian Public Accountability Board ("CPAB").
As part of its commitment to full transparency and regulatory compliance, the Company filed a press release on August 29, 2025 (the "August 29 Release"), posted to SEDAR+ Read Press Release Here. The August 29 Release directed attention to a publicly available CPAB enforcement notice issued August 8, 2025, in relation to the Company's auditor, Abu-Farah Professional Corporation.
The Company continues to operate in the ordinary course of business and remains transparent and cooperative with all applicable securities and regulatory authorities. XTM is fully committed to ensuring timely disclosure of all material information to its investors and stakeholders.
The CPAB enforcement notice can be accessed here.
The Enforcement Report identified multiple significant inspection findings across two audit clients, each of which constitute a separate Violation Event (as defined in the Rules of CPAB) with respect to the Auditor. As it relates to the Company, CPAB's findings are made in connection with a review of the audit of the Company's financial statements for the fiscal year ended December 31, 2023.
In addition, among the various enforcement actions, the Auditor is prohibited at present from accepting new reporting issuer clients. A copy of the Enforcement Report is available here.
There was also an investigation findings summary report issued by CPAB in July specifically relating to the audit of the Company (the "Findings Report") which was not made publicly available. As a result of the Findings Report, a remediation plan was required for the Auditor of the Company's 2023 Statements
The Company has consulted with its Auditor on these issues and the Auditor continues to carry out a remediation plan as requested by CPAB. The Company will update the market when the remediation has been completed for both reports, which is expected in Q4 2025.
About AnyDay Inc.
AnyDay (CSE:PAID, OTCQB:XTMIF, FSE: 7XT)) is a fintech business leveraging technology to transform how workers access and manage their pay. Through its proprietary AnyDay™ platform, XTM provides businesses with automated tip pooling, instant payouts, and Earned Wage Access ("EWA") solutions that empower employees with financial flexibility and control. By bridging the gap between work and payday, XTM is driving improved employee satisfaction, retention, and engagement, while helping businesses streamline operations and strengthen workforce loyalty. With a growing footprint across North America in hospitality, health-care, casinos, construction and manufacturing XTM is shaping the future of pay for the service and hospitality industries.
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For more information, please contact:
finance@xtminc.com
416.260.1641