Item 4.01
CHANGES IN REGISTRANT’S CERTIFYING ACCOUNTANT.
Dismissal of Independent Registered Public Accounting Firm
On July 20, 2018, National Art Exchange,
Inc. (the “Company”) notified WWC, P.C. (the “Former Auditor”) of its dismissal, effective July 20, 2018,
as the Company’s independent registered public accounting firm. The Former Auditor served as the auditors of the
Company’s financial statements for the period from January 6, 2016 through July 20, 2018.
The reports of the Former Auditor on the
Company’s financial statements for the Company’s fiscal years ended September 30, 2016 and September 30, 2017 did not
contain any adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting
principle, except that there was an explanatory paragraph describing conditions that raised substantial doubt about the Company’s
ability to continue as a going concern for the years ended September 30, 2016 and 2017. The decision to change the independent
public accounting firm was approved by the Company’s board of directors (the “Board”) as a result of change of
control disclosed in a current report on Form 8-k filed on April 11, 2018.
From January 6, 2016 through July 20, 2018,
the period during which the Former Auditor was engaged as the Company’s independent registered public accounting firm, there
were no disagreements with the Former Auditor 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 the Former Auditor, would have caused
the Former Auditor to make reference to the subject matter of the disagreements
as defined
in Item 304 of Regulation S-K
in connection with any reports it would have issued, and there were no “reportable
events” as such term is described in Item 304 of Regulation S-K
.
The Former Auditor
advised the Company that the Company’s internal control over financial reporting based on the framework and criteria established
in the Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission
(“COSO”) was not effective as of September 30, 2017.
The Company has provided the Former Auditor
with a copy of the foregoing disclosure, and requested that the Former Auditor furnish the Company with a letter (the “Consent
Letter”) addressed to the Securities and Exchange Commission stating whether or not it agrees with such disclosure. The Former
Auditor has issued the Consent Letter which is attached herein as Exhibit 16.1.
New Independent Registered Public Accounting Firm
On July 19, 2018, the Board appointed KCCW
Accountancy Corp (“KCCW”) as the Company’s independent registered public accounting firm for the Company’s
fiscal year ended September 30, 2018.
During the fiscal years ended September
30, 2015, September 30, 2016 and September 30, 2017 and through July 19, 2018, the Company did not consult with KCCW regarding
(1) the application of accounting principles to a specified transaction, (2) the type of audit opinion that might be rendered on
the Company’s financial statements, (3) written or oral advice provided that would be an important factor considered by the
Company in reaching a decision as to an accounting, auditing or financial reporting issue, or (4) any matter that was the subject
of a disagreement between the Company and its predecessor auditor as described in Item 304(a)(1)(iv) or a reportable event as described
in Item 304(a)(1)(v) of Regulation S-K.