Business Context and Reporting Period
Company: Grove Collaborative Holdings, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 9, 2024
Reporting Period: Immediate event reporting regarding a change in independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data. The document reports a corporate governance event rather than financial results. Consequently, there are no values provided for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
- Dismissal of Auditor: The Company dismissed Ernst & Young LLP (EY) as its independent registered public accounting firm, effective October 9, 2024.
- Appointment of New Auditor: The Audit Committee appointed Moss Adams LLP to serve as the independent registered public accounting firm for the quarter ending September 30, 2024, and the fiscal year ending December 31, 2024.
- Audit History: EY's audit reports for the years ended December 31, 2022, and 2023 were unqualified and did not contain adverse opinions, disclaimers, or modifications regarding uncertainty, scope, or accounting principles.
- Disagreements: The Company reported no disagreements with EY on accounting principles, practices, financial statement disclosures, or auditing scope/procedures during the two most recent fiscal years or through the date of dismissal.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms that the Company provided EY with a copy of the disclosure prior to filing and received a response letter (Exhibit 16.1) from EY regarding the statements made in the report.
Consultations with New Auditor: During the two most recent fiscal years and through October 9, 2024, the Company did not consult Moss Adams on any matters regarding the application of accounting principles, the type of audit opinion, or any matters that would constitute a "disagreement" or "reportable event."
Investor Verification Checklist
- Verify the content of the letter from Ernst & Young LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Monitor upcoming quarterly and annual filings to assess the transition process between EY and Moss Adams LLP.
- Review the next 10-Q or 10-K filing for any restatements or changes in accounting policies resulting from the auditor change.
- Check for any subsequent press releases or 8-K filings that might provide context on the strategic reasons for the auditor change, as this filing does not explicitly state the rationale.