Business Context and Reporting Period
Company: Amplify Energy Corp. (NYSE: AMPY)
Filing Type: Form 8-K (Current Report)
Date of Report: January 22, 2020
Subject: Item 4.01 - Changes in Registrant's Certifying Accountant
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 a new independent auditor.
Material Changes
- Appointment of New Auditor: The Audit Committee appointed Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2020.
- Dismissal of Prior Auditor: KPMG LLP will be dismissed upon completion of the audit for the fiscal year ended December 31, 2019.
- Historical Audit Context: KPMG's reports for 2017 and 2018 included a separate paragraph regarding the company's reorganization under Accounting Standards Codification Topic 852, noting that financial statements were prepared for a successor entity with carrying amounts not comparable to prior periods.
Guidance, Outlook, and Risks
- Disagreements: The company reported no disagreements with KPMG regarding accounting principles, financial statement disclosures, or auditing scope/procedures during the fiscal years ended December 31, 2018 and 2017, or subsequent interim periods through January 22, 2020.
- Reportable Events: No reportable events occurred during the same periods.
- Consultation with New Auditor: The company confirmed no consultations with Deloitte regarding accounting principles or audit opinions prior to their appointment.
- Shareholder Ratification: The selection of Deloitte is subject to ratification by stockholders at the 2020 annual meeting.
Investor Verification Checklist
- Verify the execution of the engagement letter with Deloitte & Touche LLP.
- Confirm the completion of KPMG's audit for the fiscal year ended December 31, 2019.
- Review the outcome of the shareholder vote at the 2020 annual meeting regarding the ratification of Deloitte.
- Examine the upcoming 2019 annual report (10-K) for the first financial statements audited by the new firm.