Business Context and Reporting Period
This Form 8-K filing by Transcat, Inc. (TRNS) is dated February 6, 2025, with a signature date of February 12, 2025. The report discloses a change in the Company's independent registered public accounting firm for the fiscal year ending March 28, 2026.
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 a disclosure regarding the change of auditors.
Material Changes
- Dismissal of Former Auditor: The Audit Committee approved the dismissal of Freed Maxick P.C. effective immediately following the completion of the audit for the fiscal year ending March 29, 2025.
- Engagement of New Auditor: On February 10, 2025, the Company engaged Deloitte & Touche LLP as the new independent registered public accounting firm, beginning with the review of the quarter ending June 28, 2025.
Management Commentary, Risks, and Contingencies
Disagreements and Reportable Events: The Company stated there were no "disagreements" or "reportable events" with Freed Maxick P.C. during the fiscal years ended March 30, 2024, and March 25, 2023, or the subsequent interim period. Freed Maxick's audit reports for these periods did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
Consultation with New Auditor: The Company confirmed that neither it nor anyone acting on its behalf consulted Deloitte & Touche LLP regarding accounting principles, audit opinions, or matters involving disagreements or reportable events prior to their engagement.
Important Facts for Investor Verification
- Verify the specific effective date of Freed Maxick P.C.'s dismissal once the amendment to this 8-K is filed.
- Review the letter from Freed Maxick P.C. (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the lack of disagreements.
- Monitor future filings for the first financial statements reviewed or audited by Deloitte & Touche LLP starting with the quarter ending June 28, 2025.