Business Context and Reporting Period
This Form 8-K Current Report was filed by PUMA BIOTECHNOLOGY, INC. on March 23, 2017. The filing addresses a change in the Company's independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance regarding the external auditor.
Material Changes
- Dismissal of Auditor: On March 23, 2017, the Company dismissed PKF, LLP as its independent registered public accounting firm, effective immediately. This action was approved by the Audit Committee.
- Engagement of New Auditor: On March 23, 2017, the Audit Committee engaged KPMG LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2017.
- Audit History: PKF's audit reports for the fiscal years ended December 31, 2016, and 2015, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
- Disagreements: There were no disagreements with PKF on accounting principles, practices, disclosures, or audit scope during the fiscal years 2015 and 2016, or the interim period through March 23, 2017.
- Reportable Events: No "reportable events" occurred during the relevant periods as defined by Regulation S-K.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business operations. The primary risk disclosed is the transition of the external audit function. The Company confirmed that PKF was provided a copy of this report prior to filing and that PKF's response letter (Exhibit 16.1) was attached.
Investor Verification Checklist
- Verify the content of Exhibit 16.1 (PKF's letter) to confirm the former auditor agrees with the statements regarding the dismissal and lack of disagreements.
- Confirm the effective date of KPMG LLP's engagement for the 2017 fiscal year.
- Review subsequent filings to ensure the transition of audit responsibilities proceeds without delay or qualification.