Business Context and Reporting Period
This Form 8-K Current Report was filed by GSI Technology, Inc. on September 14, 2017, covering events occurring on September 12, 2017. The filing addresses a change in the company's certifying accountant.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document is strictly procedural regarding the appointment of an auditor.
Material Changes
- Dismissal of Auditor: On September 12, 2017, the Audit Committee dismissed PricewaterhouseCoopers LLP (PWC) as the company's principal accountant.
- Appointment of New Auditor: On September 12, 2017, the Audit Committee engaged BDO USA, LLP (BDO) as the independent registered public accounting firm for the fiscal year ending March 31, 2018, effective immediately.
- Audit History: PWC's reports for fiscal years ended March 31, 2017, and March 31, 2016, contained no adverse opinions, disclaimers, or qualifications.
- Disagreements: There were no disagreements with PWC regarding accounting principles, practices, or audit scope during the relevant periods.
- Consultations: The company had no prior consultations with BDO regarding accounting principles or reportable events prior to their engagement.
Guidance, Outlook, and Risks
The filing contains no management guidance, financial outlook, or discussion of business risks. The primary contingency noted is the transition of audit responsibilities from PWC to BDO. PWC provided a letter to the SEC agreeing with the company's statements regarding the dismissal.
Investor Verification Checklist
- Verify the effective date of BDO USA, LLP's engagement for the fiscal year ending March 31, 2018.
- Review Exhibit 16.1 (Letter from PricewaterhouseCoopers LLP) to confirm their concurrence with the company's statements regarding the dismissal.
- Monitor future filings for the first financial statements audited by BDO to assess any changes in audit scope or opinion.
- Confirm that no undisclosed "reportable events" or disagreements existed during the PWC tenure as stated in the filing.