Business Context and Reporting Period
This Form 8-K Current Report was filed by Avidia Bancorp, Inc. on November 12, 2025. The filing addresses a change in the Company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance regarding the external auditor.
Material Changes
- Dismissal of Auditor: The Audit Committee approved the dismissal of Berry, Dunn, McNeil & Parker, LLC, effective November 12, 2025.
- Engagement of New Auditor: The Audit Committee concurrently approved the engagement of BDMP Assurance, LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2025, effective November 12, 2025.
- Reason for Change: The transition resulted from a restructuring of Berry, Dunn, McNeil & Parker, LLC. The former firm is now focused on tax and advisory services, while BDMP Assurance, LLP (owned by certain partners of the former firm) performs financial statement audits.
Management Commentary, Risks, and Contingencies
- Audit Opinions: Reports issued by Berry, Dunn, McNeil & Parker, LLC for fiscal years ended December 31, 2023, and 2024, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
- Disagreements: There were no disagreements with the former auditor on accounting principles, practices, disclosures, or auditing scope/procedures during the two most recent fiscal years and the subsequent interim period.
- Reportable Events: No "reportable events" occurred during the specified periods.
- Consultations: The Company did not consult with BDMP Assurance, LLP regarding accounting principles or audit opinions prior to their engagement.
Investor Verification Checklist
- Verify the independence and PCAOB registration status of the new auditor, BDMP Assurance, LLP.
- Review the letter from Berry, Dunn, McNeil & Parker, LLC (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Monitor upcoming financial reports to ensure a smooth transition in audit procedures and reporting timelines.
- Confirm that the restructuring of the former audit firm does not impact the continuity of audit work or data access.