Super Micro Computer shares plummeted 32% on Tuesday following the abrupt resignation of Ernst & Young LLP (EY) as the company's registered public accounting firm, News.Az reports citing Investing. In a filing with the U.S. Securities and Exchange Commission (SEC), Super Micro disclosed that EY submitted its resignation on October 24. In late July, EY reportedly raised concerns over governance, transparency, and the completeness of communications with management. EY's resignation comes while it was conducting its first audit for the company, covering the fiscal year ending June 30, 2024. According to the filing, EY raised red flags in July regarding the company's internal controls and governance procedures, warning that the timely filing of the annual report was at significant risk. In response, the board of directors launched an internal review through a Special Committee, hiring Cooley LLP and forensic accounting firm Secretariat Advisors to assist with the investigation.