Business Context and Reporting Period
This Form 8-K was filed by Akari Therapeutics Plc on April 5, 2016. The report addresses a corporate governance matter regarding the change of the company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. This report is strictly procedural regarding the audit firm engagement.
Material Changes
- Change in Certifying Accountant: The Audit Committee approved the engagement of BDO USA, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2016.
- Replacement: BDO USA replaces BDO AG, which served as the auditor for the fiscal year ending December 31, 2015.
- Effective Date: The engagement of BDO USA is effective as of April 5, 2016.
- Relationship: Both BDO USA and BDO AG are members of the BDO International Limited network.
Management Commentary and Risks
Management confirmed that the reports issued by BDO AG for the fiscal year ended December 31, 2015, did not contain an adverse opinion, disclaimer of opinion, or qualification regarding uncertainty, audit scope, or accounting principles. Furthermore, there were no disagreements with BDO AG on accounting principles, practices, or financial statement disclosures during the 2015 audit or the interim period through April 5, 2016. No reportable events as described under Item 304(a)(1)(v) of Regulation S-K occurred.
Investor Verification Checklist
- Verify the letter from BDO AG (Exhibit 16.1) confirming no disagreements with the company regarding accounting matters.
- Confirm the transition timeline between BDO AG and BDO USA to ensure continuity of audit oversight.
- Review the upcoming 2016 financial statements to ensure they are audited by the newly engaged BDO USA.