PIONEER POWER SOLUTIONS, INC.
For the period ended Dec 31, 2025. Filed Apr 8, 2026.
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FY2025 · Filed Apr 8, 2026
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Item 14. Principal Accountant Fees and Services
BDO USA, P.C. served as our independent registered public accounting firm for the fiscal years ended December 31, 2025. On November 20, 2024, the audit committee of our board of directors approved the dismissal of Marcum LLP as the Company’s independent registered public accounting firm, effective as of November 14, 2024, and informed Marcum LLP of such dismissal on the date thereof. On November 26, 2024, the Company entered into an engagement agreement with BDO USA, P.C., in which BDO USA, P.C. agreed to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024.
The following table presents aggregate fees for professional services rendered by BDO USA, P.C. during the fiscal year ended December 31, 2025, and BDO USA, P.C. and Marcum LLP during the fiscal year ended December 31, 2024 (in thousands):
| For the Years Ended | Audit fees | Audit-related | Tax fees | All other | Total fees |
|---|---|---|---|---|---|
| December 31, | (1) ($) | fees (2) ($) | (3) ($) | fees (4) ($) | ($) |
| BDO USA, P.C. | 575 | - | 57 | - | 632 |
| BDO USA, P.C. | 436 | - | 156 | - | 592 |
| Marcum LLP | 718 | - | - | 26 | 744 |
| (1) | Audit fees consisted primarily of fees for the annual audit of our consolidated financial statements, the interim reviews of the quarterly consolidated financial statements and review of a registration statement. |
| (2) | The Company did not incur any audit-related fees for the years ended December 31, 2025, and 2024. |
| (3) | Tax fees consisted primarily of fees related to tax compliance. |
| (4) | Other fees primarily consisted of charges for providing the successor auditor with access to the predecessor auditor’s working papers. |
Pre-Approval of Independent Registered Public Accounting Firm Fees and Services Policy
Our audit committee pre-approves all auditing and permitted non-audit services to be performed for us by our independent auditor against estimates submitted by the auditor, except for de minimis non-audit services that are approved by the audit committee prior to the completion of the audit. The audit committee has pre-established limits that require audit committee approval in advance of any additional funds that may be required in excess of the auditor’s estimate. The audit committee may form and delegate authority to subcommittees consisting of one or more members when appropriate, including the authority to grant pre-approvals of audit and permitted non-audit services. The audit committee pre-approved all of the fees set forth in the table above.
PART IV
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