Business Context and Reporting Period
This Form 6-K filing by Endava Plc covers the month of December 2022. The report details the resignation of KPMG LLP and the subsequent appointment of PricewaterhouseCoopers LLP (PwC) as the Company's independent registered public accounting firm and U.K. statutory auditor.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a regulatory disclosure regarding auditor changes and does not contain financial performance data.
Material Changes
- Auditor Resignation: KPMG LLP tendered its resignation effective November 10, 2022, ahead of the Annual General Meeting.
- Auditor Appointment: PwC was appointed by the Board of Directors immediately following KPMG's resignation and was formally approved by shareholders on December 12, 2022.
- Audit History: KPMG issued no adverse, qualified, or modified opinions for fiscal years ended June 30, 2022, and 2021.
Outlook, Risks, and Contingencies
Internal Control Weakness: The filing references a material weakness in internal control over financial reporting disclosed in the prior fiscal year (ended June 30, 2021). This weakness related to the lack of an effective risk assessment process regarding the impact of events after the reporting period on the allowance for credit losses related to trade receivables.
Disagreements: There were no disagreements between the Company and KPMG regarding accounting principles, financial statement disclosure, or auditing scope, other than the aforementioned material weakness notification.
Consultations: No consultations occurred with PwC regarding accounting principles or audit opinions during the relevant periods prior to their appointment.
Key Facts for Investor Verification
- Confirm the effective date of PwC's audit responsibilities for the fiscal year ending June 30, 2023.
- Verify the status of remediation efforts regarding the previously disclosed material weakness in internal controls over credit loss allowances.
- Review the competitive audit tender process details to understand the rationale for the auditor switch.
- Check subsequent filings for the first financial statements audited by PwC.