Business Context and Reporting Period
This Form 8-K filing by Ampco-Pittsburgh Corporation (AP) reports a change in its independent registered public accounting firm. The report date is March 10, 2020, covering events occurring on March 4, 2020. The company is incorporated in Pennsylvania and trades on the New York Stock Exchange.
Key Financial Metrics
This filing is a current report regarding corporate governance and auditor changes. It does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The filing references the completion of the audit for the fiscal year ended December 31, 2019, but does not disclose the specific financial results of that period.
Material Changes
- Dismissal of Auditor: On March 4, 2020, the Audit Committee dismissed Deloitte & Touche LLP (D&T) as the independent registered public accounting firm, effective upon the completion of the 2019 fiscal year audit and the filing of the Form 10-K.
- Engagement of New Auditor: On March 10, 2020, the company engaged BDO USA LLP (BDO) as the new independent registered public accounting firm, effective for the period ending December 31, 2020.
- Audit History: D&T had served as the auditor since 1999. The company confirmed there were no disagreements with D&T regarding accounting principles, practices, or auditing scope during the fiscal years ended December 31, 2018 and 2017, or the interim period through March 4, 2020.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on business operations. Regarding risks and contingencies, the company explicitly stated that no reportable events occurred under Item 304(a)(1)(v) of Regulation S-K during the relevant periods. Furthermore, the company confirmed that no consultations were held with the new auditor, BDO, regarding accounting principles, audit opinions, or disagreements prior to their engagement.
Investor Verification Checklist
- Verify the reasons for the auditor change by reviewing the letter from Deloitte & Touche LLP filed as Exhibit 16.1.
- Review the upcoming Form 10-K for the fiscal year ended December 31, 2019, to assess the financial results audited by the outgoing firm.
- Monitor future filings to ensure the transition to BDO USA LLP proceeds without qualification or delay in the 2020 audit.
- Confirm that no undisclosed disagreements or reportable events exist between the company and the former auditor.