Business Context and Reporting Period
This Form 8-K filing by Consolidated Water Co. Ltd. (Cayman Islands) reports a corporate governance event dated June 27, 2002. The filing was signed on July 5, 2002, by Frederick W. McTaggart, President.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a change in the company's certifying accountant.
Material Changes
- Accountant Dismissal: The Company dismissed its independent accountants, PricewaterhouseCoopers, on June 27, 2002.
- Audit History: PricewaterhouseCoopers' reports for the fiscal years ended December 31, 2000, and 2001, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements with PricewaterhouseCoopers during the fiscal years 2000 and 2001, or the interim period through June 27, 2002, regarding accounting principles, financial statement disclosure, or auditing scope.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or management commentary on future operations. The decision to dismiss the accountant was recommended and approved by the audit committee of the board of directors. The Company has authorized PricewaterhouseCoopers to respond fully to inquiries from future independent accountants.
Investor Verification Checklist
- Verify the identity and qualifications of the new independent accountant appointed to replace PricewaterhouseCoopers.
- Review the letter from PricewaterhouseCoopers to the SEC (Exhibit 99.1) for any additional context regarding the dismissal.
- Confirm that the change in auditors does not signal undisclosed financial irregularities, despite the lack of reported disagreements.