Business Context and Reporting Period
This Form 8-K is filed by Fortress Transportation and Infrastructure Investors LLC (FTAI Aviation Ltd.) for the reporting period ending May 5, 2016. The filing primarily 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 is a current report regarding corporate governance and does not contain financial statement data.
Material Changes
- Change in Auditor: The Audit Committee approved the engagement of Ernst & Young LLP (EY) as the independent registered public accounting firm for the fiscal year ending December 31, 2016, effective May 5, 2016.
- Dismissal of Prior Auditor: PricewaterhouseCoopers LLP (PwC) was dismissed as the independent registered public accounting firm on May 5, 2016.
- Audit History: PwC's reports for the fiscal years ended December 31, 2015, and 2014 contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements between the Company and PwC on accounting principles, practices, financial statement disclosure, or auditing scope/procedures during the relevant periods.
- Consultations: The Company did not consult with EY regarding accounting principles, audit opinions, or reportable events prior to the engagement.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook. No specific risks or contingencies are disclosed beyond the standard disclosure regarding the change in auditors. The filing confirms that no reportable events occurred during the periods covered by PwC's tenure.
Investor Verification Checklist
- Verify the effective date of the new auditor engagement (May 5, 2016).
- Confirm the absence of disagreements or reportable events with the former auditor, PwC.
- Review the letter from PwC to the SEC (Exhibit 16.1) for any additional context on the dismissal.
- Note that this filing does not impact the fiscal year-end (December 31) but changes the auditor for the 2016 fiscal year.