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  "documentTitle": "Resideo Technologies, Inc. (REZI)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2026-01-27 00:00:00",
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      "text": "We also have concerns around recent multiple auditor changes at three Ademco U.K. entities from Deloitte to Grant Thornton. These three entities generated combined losses of £84m in 2024 and involved large restructuring and reversal impairment charges.",
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      "text": "We also have concerns around recent multiple auditor changes at three Ademco U.K. entities from Deloitte to Grant Thornton.",
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      "text": "audit fees: £84m",
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      "text": "While we understand the need for cost rationalization at REZI, we don't believe it should come at the expense of the audit fees given multiple reporting anomalies identified. Despite acquiring over $1.5bn in revenue, the audit fee has barely increased.",
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      "text": "Source: Companies House U.K. FTC.org.uk, REZI and SNPO proxy statements.",
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