Business Context and Reporting Period
This Form 8-K Current Report was filed by AquaBounty Technologies, Inc. (AQB) on July 6, 2021. The report discloses a change in the Company's independent registered public accounting firm effective July 2, 2021.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on corporate governance regarding the audit firm.
Material Changes
- Dismissal of Prior Auditor: The Audit Committee dismissed Wolf & Company, P.C. ("Wolf") as the independent registered public accounting firm, effective immediately on July 2, 2021.
- Appointment of New Auditor: Deloitte & Touche LLP ("Deloitte") was appointed as the new independent registered public accounting firm, commencing with the fiscal year ending December 31, 2021, subject to standard client acceptance and engagement letter execution.
- Audit History: Wolf's audit reports for the years ended December 31, 2019, and 2020 contained no adverse opinions, disclaimers, or qualifications.
- Disagreements: There were no disagreements or reportable events between the Company and Wolf during the fiscal years 2019-2020 or the interim period through March 31, 2021.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on business operations. The primary risk disclosed is the transition of the audit firm, though the Company states there were no underlying accounting disputes necessitating the change.
Investor Verification Checklist
- Verify the status of Deloitte's client acceptance process and the execution of the engagement letter for the 2021 fiscal year.
- Review Exhibit 16.1 (Letter from Wolf & Company, P.C.) to confirm the former auditor's agreement with the statements in this report.
- Monitor upcoming financial filings to ensure the transition to Deloitte does not impact the timeliness of the 2021 annual report.