Business Context and Reporting Period
Company: Pacific Biosciences of California, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: June 16, 2011
Reporting Period: The filing addresses events occurring on June 16, 2011, regarding the change of the company's independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data. There are no reported values for revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
The primary material change reported is the replacement of the company's independent auditor:
- Dismissal: PricewaterhouseCoopers LLP (PwC) was dismissed as the independent registered public accounting firm effective June 16, 2011.
- Appointment: Ernst & Young LLP was appointed as the new independent registered public accounting firm effective June 16, 2011.
- Audit History: PwC's reports for the last two fiscal years contained no adverse opinions, disclaimers, or qualifications. There were no disagreements with PwC regarding accounting principles, practices, or audit scope during the two most recent fiscal years or through June 16, 2011.
- Reportable Events: No reportable events as defined in Item 304(a)(1)(v) of Regulation S-K occurred during the relevant period.
Guidance, Outlook, and Risks
This filing does not provide financial guidance, outlook, or management commentary on future operations. The document focuses solely on the procedural change of the auditing firm and confirms the absence of disputes with the outgoing auditor.
Investor Verification Checklist
- Verify the effective date of the transition from PwC to Ernst & Young LLP (June 16, 2011).
- Review the letter from PwC filed as Exhibit 16.1 to confirm their agreement with the company's disclosures regarding the dismissal.
- Confirm that no undisclosed disagreements or reportable events existed between the company and PwC during the two most recent fiscal years.
- Monitor subsequent filings for the first financial statements audited by Ernst & Young LLP.