Business Context and Reporting Period
This Form 8-K is a current report filed by Ames National Corporation on November 7, 2022. The filing addresses a change in the company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance regarding the external auditor.
Material Changes
- New Auditor Appointment: The Audit Committee appointed FORVIS, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2023.
- Previous Auditor Departure: The appointment follows the decision by the prior auditor, CliftonLarsonAllen LLP, to decline reappointment after completing the audit for the year ended December 31, 2022.
- No Prior Consultations: The company confirmed no consultations occurred with FORVIS regarding accounting principles, audit opinions, or reportable events prior to engagement.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future performance. The primary risk disclosed is the transition of the external audit firm, though the text notes no disagreements or reportable events with the outgoing firm.
Investor Verification Checklist
- Verify the effective date of FORVIS, LLP's engagement for the 2023 fiscal year.
- Review the August 12, 2022, Form 8-K filed by the company for details on CliftonLarsonAllen LLP's decision to decline reappointment.
- Confirm that no "disagreements" or "reportable events" occurred with the former auditor as defined in Regulation S-K.
- Monitor upcoming financial statements for the first audit opinion issued by FORVIS, LLP.