Business Context and Reporting Period
Company: Kentucky First Federal Bancorp
Filing Type: Form 8-K (Current Report)
Date of Report: August 20, 2009
Reporting Period: The filing addresses the change in independent registered public accounting firm effective for the fiscal year ending June 30, 2010.
Key Financial Metrics
This filing does not contain financial performance data. The document focuses exclusively on corporate governance regarding the audit firm. Consequently, there are no reported values for revenue, profit, cash flow, margins, debt, or liquidity in this text.
Material Changes
The primary material change reported is the replacement of the independent registered public accounting firm:
- Termination: BKD, LLP was notified on August 20, 2009, that it would not be retained for the fiscal year ending June 30, 2010. BKD remains engaged to audit the fiscal year ended June 30, 2009.
- Appointment: Crowe Horwath LLP was engaged on August 20, 2009, to conduct the audit for the fiscal year ending June 30, 2010.
- Audit History: BKD's reports for fiscal years ended June 30, 2008, and 2007 contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
- Disagreements: The registrant reported no disagreements with BKD on accounting principles, practices, or auditing scope during the two most recent fiscal years or through the date of the report.
- Consultations: The registrant did not consult with the new firm, Crowe Horwath LLP, regarding accounting principles or report types during the two most recent fiscal years or through the date of the report.
Guidance, Outlook, and Risks
The filing contains no management guidance, financial outlook, or discussion of specific business risks. The only contingency noted is the transition of audit responsibilities, which was executed without reported "reportable events" or disagreements between the company and the outgoing firm.
Investor Verification Checklist
- Verify the reasons for the change in auditors, as this filing does not explicitly state the strategic or operational rationale beyond the notification.
- Review the letter from BKD, LLP (filed as Exhibit 16) to confirm their agreement with the registrant's disclosures regarding the lack of disagreements.
- Monitor future filings (10-K or 10-Q) for the fiscal year ending June 30, 2010, to assess the impact of the new auditor on financial reporting.
- Confirm that no "reportable events" occurred during the transition period that were not disclosed in this 8-K.