Business Context and Reporting Period
This Form 8-K filing by Barnwell Industries, Inc. (BRN) reports a corporate governance event dated July 8, 2020. The filing addresses a change in the Company's independent registered public accounting firm for the fiscal year ending September 30, 2020.
Financial Metrics
This filing does not contain financial performance data. There are no disclosures regarding revenue, profit, cash flow, margins, debt, or liquidity metrics within this document.
Material Changes
- Dismissal of KPMG LLP: The Audit Committee dismissed KPMG LLP as the Company's principal accountant effective July 8, 2020.
- Appointment of Weaver and Tidwell, L.L.P.: The Audit Committee engaged Weaver and Tidwell, L.L.P. as the new independent registered public accounting firm for the fiscal year ending September 30, 2020.
- Audit History: KPMG's reports for the fiscal years ended September 30, 2019 and 2018 contained no adverse opinions, disclaimers, or qualifications.
- Disagreements: The Company reported no disagreements with KPMG regarding accounting principles, practices, or audit scope during the relevant periods.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or specific risk factors beyond the standard disclosure of the accounting firm change. The Company confirmed that no "reportable events" occurred during the tenure of the previous accountant.
Key Facts for Investor Verification
- Verify the content of the letter from KPMG LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Confirm the transition timeline for the new auditor, Weaver and Tidwell, L.L.P., for the upcoming fiscal year.
- Review subsequent filings (e.g., 10-Q or 10-K) to assess if the change in auditors impacts the audit opinion or financial reporting for the fiscal year ending September 30, 2020.