Business Context and Reporting Period
This Form 8-K is a current report filed by Covenant Transport, Inc. regarding its 401(k) and Profit Sharing Plan. The report date is May 12, 2005, with the document signed on July 11, 2005. The filing addresses a change in the independent registered public accounting firm for the Plan.
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 auditors.
Material Changes
- Dismissal of Auditor: KPMG LLP was dismissed as the independent registered public accounting firm for the Plan effective May 12, 2005.
- Engagement of New Auditor: Lattimore Black Morgan & Cain, P.C. was engaged as the new independent registered public accounting firm effective May 12, 2005.
- Approval: Both decisions were approved by the Audit Committee of Covenant Transport, Inc. on the date of the change.
Guidance, Outlook, and Risks
Management Commentary and Disagreements: The filing states there were no disagreements with KPMG regarding accounting principles, financial statement disclosure, or auditing scope during the years ended December 29, 2002 and 2003, or through May 12, 2005. KPMG's reports for those years did not contain adverse opinions, disclaimers, or qualifications.
Consultation with New Auditor: Lattimore Black Morgan & Cain, P.C. was not consulted regarding accounting principles or reportable events during the relevant periods prior to engagement.
Unusual Items: The filing notes that a letter from KPMG addressed to the SEC regarding the change was unavailable at the time of filing but was expected to be filed within ten days.
Investor Verification Checklist
- Verify the receipt of the KPMG letter to the SEC confirming the absence of disagreements.
- Confirm the effective date of the new audit engagement with Lattimore Black Morgan & Cain, P.C.
- Review subsequent filings to ensure the new auditor's first report aligns with the stated lack of prior disagreements.