Business Context and Reporting Period
Company: ENERPAC TOOL GROUP CORP
Filing Type: Form 8-K (Current Report)
Date of Report: November 16, 2020
Reporting Period: Fiscal year ending August 31, 2021
Key Financial Metrics
This filing does not contain financial performance data. Revenue, profit, cash flow, margins, debt, and liquidity metrics are not reported in this document.
Material Changes
The filing reports a material change in the Company's independent registered public accounting firm:
- Dismissal: PricewaterhouseCoopers LLP was dismissed as the independent auditor for the fiscal year ending August 31, 2021.
- Appointment: Ernst & Young LLP was appointed as the new independent registered public accounting firm for the fiscal year ending August 31, 2021.
- Effective Date: The new firm accepted the appointment on November 18, 2020.
Management Commentary, Risks, and Contingencies
Audit History and Disagreements: The Audit Committee confirmed that the audit reports issued by PricewaterhouseCoopers LLP for the fiscal years ended August 31, 2020, and 2019, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles. There were no "disagreements" or "reportable events" with the former auditor during the relevant periods.
Consultations with New Auditor: The Company confirmed that no consultations occurred with Ernst & Young LLP regarding accounting principles, audit opinions, disagreements, or reportable events prior to their appointment.
Investor Verification Checklist
- Verify the official engagement letter between the Company and Ernst & Young LLP.
- Review the letter from PricewaterhouseCoopers LLP (Exhibit 16.1) to confirm their agreement with the Company's disclosures regarding the dismissal.
- Monitor future filings for any restatements or changes in accounting policies resulting from the auditor transition.