Business Context and Reporting Period
Company: TTM Technologies, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: February 27, 2014
Principal Event: 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 the administrative change of the external auditor.
Material Changes
- Dismissal of Previous Auditor: The Audit Committee dismissed PricewaterhouseCoopers LLP (PwC) as the independent registered public accounting firm on February 27, 2014. PwC was notified on February 28, 2014.
- Appointment of New Auditor: The Audit Committee selected KPMG LLP to audit the financial statements for the fiscal year ending December 29, 2014.
- Audit History: The company reported no disagreements with PwC regarding accounting principles, financial statement disclosure, or auditing scope during the two most recent fiscal years (ended Dec 31, 2012, and Dec 30, 2013) or the interim period through February 27, 2014.
- Report Quality: PwC's reports for the past two fiscal years contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
Guidance, Outlook, and Risks
Consultations with New Auditor: The company confirmed it did not consult with KPMG LLP regarding the application of accounting principles to specified transactions or the type of audit opinion that might be rendered during the relevant periods. No written reports or oral advice were provided by KPMG that were considered important factors in reaching decisions on accounting or auditing issues.
Exhibits: The filing includes a letter from PwC to the SEC (Exhibit 16) dated March 4, 2014, stating whether they agree with the statements made by the company regarding the dismissal.
Investor Verification Checklist
- Verify the content of the PwC letter (Exhibit 16) to confirm there are no undisclosed disagreements or reportable events.
- Monitor future filings for the transition timeline and any potential delays in the 2014 fiscal year audit caused by the change in auditors.
- Review the upcoming 10-K filing to ensure the new auditor (KPMG) provides a clean opinion on the 2014 financial statements.