Business Context and Reporting Period
This Form 8-K Current Report was filed by Willdan Group, Inc. on July 2, 2010, covering events occurring on June 29, 2010. The filing addresses a change in the company's principal 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 is strictly procedural regarding the appointment of auditors.
Material Changes
- Dismissal of KPMG LLP: The Company dismissed KPMG LLP as its principal accountant, effective June 29, 2010. This decision was recommended by the audit committee and approved by the board of directors.
- Engagement of Ernst & Young LLP: On June 29, 2010, the Company engaged Ernst & Young LLP as its new principal accountant for the fiscal year ending December 31, 2010.
- Audit History: KPMG's reports for the fiscal years ended January 1, 2010, and January 2, 2009, were unqualified and contained no adverse opinions or disclaimers.
- No Disagreements: The Company reported no disagreements with KPMG regarding accounting principles, practices, financial statement disclosures, or auditing scope/procedures during the relevant periods.
- No Reportable Events: There were no "reportable events" as defined in Regulation S-K during the specified periods.
Guidance, Outlook, and Risks
The filing contains no management guidance, financial outlook, or discussion of business risks. It confirms that no consultations occurred with Ernst & Young regarding accounting principles or matters that were subjects of disagreement with KPMG prior to the engagement.
Investor Verification Checklist
- Verify the content of the letter from KPMG LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Review the Company's subsequent financial reports audited by Ernst & Young LLP for the fiscal year ended December 31, 2010.
- Confirm that no undisclosed disagreements or reportable events arose during the interim period between the dismissal and the new engagement.