Business Context and Reporting Period
This Form 8-K Current Report was filed by Assembly Biosciences, Inc. on May 11, 2015. The report discloses a change in the company's independent registered public accounting firm.
Key Financial Metrics
The filing does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the administrative change of auditors.
Material Changes
- Dismissal of Prior Auditor: On May 11, 2015, Assembly Biosciences, Inc. dismissed EisnerAmper LLP, which had served as the independent registered public accounting firm since January 18, 2011.
- Engagement of New Auditor: On May 11, 2015, the company appointed Ernst & Young LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2015.
- Audit Committee Approval: The change was recommended and approved by the audit committee of the board of directors.
Management Commentary, Risks, and Contingencies
Management confirmed that during the two years ended December 31, 2014, and through May 11, 2015, there were no disagreements with EisnerAmper LLP regarding accounting principles, financial statement disclosures, or auditing scope. Additionally, no "reportable events" as defined under Regulation S-K occurred during this period. EisnerAmper LLP concurred with these statements and submitted a letter to the SEC confirming the absence of such issues. The company also stated that no consultations occurred with Ernst & Young LLP regarding reportable matters during the last two fiscal years or subsequent interim periods prior to the engagement.
Investor Verification Checklist
- Verify the effective date of the new audit engagement with Ernst & Young LLP.
- Review the attached letter from EisnerAmper LLP (Exhibit 16.1) for any additional context regarding the dismissal.
- Monitor future filings for the first financial statements audited by the new firm to ensure continuity in reporting standards.
- Confirm that no undisclosed disagreements or reportable events exist by cross-referencing with the company's most recent 10-K or 10-Q filings.