Business First Bancshares, Inc. current report, 15 August 2019

Vollständiges Dokument

Business Context and Reporting Period

This Form 8-K is filed by Business First Bancshares, Inc. (BFST), a Louisiana corporation, on August 15, 2019. The report discloses a change in the company's independent registered public accounting firm.

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

  • Dismissal of Auditor: Hannis T. Bourgeois, LLP (HTB) was dismissed as the independent registered public accounting firm effective upon completion of the audit for the year ended December 31, 2019.
  • Engagement of New Auditor: Dixon Hughes Goodman, LLP (DHG) was engaged as the new independent registered public accounting firm for the year ending December 31, 2020, effective immediately following the filing of the 2019 Annual Report on Form 10-K.
  • Audit History: HTB's reports for the years ended December 31, 2018, and 2017 did not contain adverse opinions, disclaimers, or qualifications. There were no disagreements or reportable events between the company and HTB during the fiscal years 2017-2018 or the interim period through June 30, 2019.

Guidance, Outlook, and Risks

The filing does not contain financial guidance, outlook, or management commentary on business performance. No risks or contingencies related to financial operations are disclosed in this specific report. The transition of auditors was initiated by the Audit Committee during the first half of 2019 after soliciting proposals for the 2020 audit.

Key Facts for Investor Verification

  • Verify the content of the letter from Hannis T. Bourgeois, LLP (Exhibit 16.1) to confirm their agreement with the company's statements regarding the dismissal.
  • Confirm the effective date of Dixon Hughes Goodman, LLP's engagement relative to the upcoming 2019 Form 10-K filing.
  • Review the upcoming 2019 Form 10-K to assess if the change in auditor correlates with any changes in accounting principles or financial reporting.