Business Context and Reporting Period
This Form 8-K Current Report was filed by Air Products & Chemicals, Inc. on July 24, 2018. The filing addresses a corporate governance matter regarding the selection of the company's independent registered public accounting firm for the fiscal year ending September 30, 2019.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly procedural regarding the change in auditors and does not contain financial performance data.
Material Changes
- Change in Certifying Accountant: The Audit and Finance Committee engaged Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending September 30, 2019.
- Transition of Duties: KPMG LLP, the current auditor, will continue to serve for the fiscal year ending September 30, 2018. KPMG's dismissal will take effect after the completion of its audit and issuance of the report for the 2018 fiscal year.
- Audit History: KPMG's audit reports for the fiscal years ended September 30, 2017, and 2016 contained no adverse opinions, disclaimers, or qualifications regarding financial statements or internal controls.
- Disagreements: There were no disagreements between the Company and KPMG on accounting principles, practices, or auditing scope during the relevant periods.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, management outlook, or specific risk factors related to operations. The primary disclosure relates to the competitive process used to select the new auditor and the confirmation that no "reportable events" occurred during the tenure of the outgoing auditor.
Investor Verification Checklist
- Verify the effective date of the transition from KPMG to Deloitte & Touche LLP.
- Confirm the absence of any disagreements or reportable events between the Company and KPMG in the two preceding fiscal years.
- Review the letter from KPMG LLP (Exhibit 16.1) to ensure they agree with the statements made in this filing.
- Note that this filing does not impact the financial statements for the fiscal year ending September 30, 2018, which will still be audited by KPMG.