Business Context and Reporting Period
This Form 8-K was filed by TSS, Inc. on January 13, 2014, reporting a corporate governance event. The filing addresses the resignation of the company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the change in the registrant's certifying accountant and contains no financial performance data.
Material Changes
- Accountant Resignation: McGladrey LLP resigned as the independent registered public accounting firm effective January 13, 2014.
- Service Period: McGladrey served as the auditor from September 17, 2013, to January 13, 2014.
- Audit Status: McGladrey had not issued any audit reports on the Company's financial statements during its tenure.
- Disagreements: There were no disagreements regarding accounting principles, practices, financial statement disclosure, or auditing scope/procedures.
- Reportable Events: No "reportable events" as defined in Item 304(a)(1)(v) of Regulation S-K occurred during the engagement.
Guidance, Outlook, and Risks
The Audit Committee has not yet retained a new independent registered public accounting firm. The Company is currently in the process of selecting a successor and will disclose the selection in a future Form 8-K. McGladrey LLP has confirmed in writing that it agrees with the Company's statements regarding the resignation and the absence of disagreements.
Investor Verification Checklist
- Verify the identity of the new independent registered public accounting firm once selected.
- Review the letter from McGladrey LLP (Exhibit 16.1) to confirm no undisclosed issues existed.
- Monitor future filings for the impact of the auditor change on the timing of upcoming financial statement audits.