Business Context and Reporting Period
This Form 8-K was filed by Flotek Industries, Inc. on November 16, 2017. The report discloses a change in the company's independent registered public accounting firm effective November 16, 2017.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the change in auditors and does not contain financial performance data.
Material Changes
- Accountant Resignation: Hein & Associates LLP resigned as the independent registered public accounting firm effective November 16, 2017.
- Reason for Change: The resignation resulted from Hein & Associates LLP combining with Moss Adams LLP.
- New Engagement: Moss Adams LLP was approved by the audit committee as the new independent registered public accounting firm concurrent with Hein's resignation.
- Audit History: Hein's audit reports for the years ended December 31, 2016, and 2015 did not contain adverse opinions, disclaimers, or qualifications.
- Disagreements: There were no disagreements between the Company and Hein regarding accounting principles, practices, or auditing scope during the two most recent fiscal years or the subsequent interim period.
- Consultations: The Company did not consult with Moss Adams on accounting principles or audit opinions prior to their engagement.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on future performance, or specific risk factors beyond the standard disclosure of the auditor change. No unusual items or contingencies were reported in this document.
Investor Verification Checklist
- Verify the transition timeline and responsibilities between Hein & Associates LLP and Moss Adams LLP.
- Review the letter from Hein & Associates LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the resignation.
- Confirm that no undisclosed disagreements or reportable events occurred during Hein's tenure.
- Monitor future filings for the first financial statements audited by Moss Adams LLP.