Business Context and Reporting Period
This Form 8-K is filed by Orient Paper, Inc. (not IT Tech Packaging, Inc.) on December 23, 2011. The report discloses a change in the company's independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance regarding the audit firm.
Material Changes
- Dismissal of Auditor: The Company dismissed BDO Limited as its independent registered public accounting firm effective December 23, 2011.
- Appointment of New Auditor: The Company appointed BDO China Shu Lun Pan CPAs LLP ("BDO China") as its new independent registered public accounting firm, effective December 23, 2011.
- Approval: The decision was approved by the Audit Committee and the Board of Directors on the date of the report.
Outlook, Risks, and Management Commentary
Audit History and Disagreements:
- The audit reports issued by BDO Limited for the fiscal years ended December 31, 2009, and 2010, contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
- The Company reported no disagreements with BDO Limited on accounting principles, practices, financial statement disclosures, or auditing scope/procedures during the two most recent fiscal years.
- No "reportable events" as defined under Regulation S-K Item 304(a)(1)(v) occurred during the relevant period.
Consultation with New Auditor:
- The Company did not consult with BDO China regarding accounting principles, audit opinions, or matters of disagreement during the two most recent fiscal years prior to engagement.
- BDO China did not provide advice that was an important factor in the decision to change auditors.
Confirmation: BDO Limited reviewed the disclosure and provided a letter agreeing with the statements made in this report.
Investor Verification Checklist
- Verify the reason for the auditor change, as the filing states no disagreements or reportable events occurred.
- Confirm the qualifications and independence of the new auditor, BDO China Shu Lun Pan CPAs LLP.
- Review the attached letter from BDO Limited (Exhibit 16.1) to ensure no undisclosed issues exist.
- Note that the registrant name in the filing is Orient Paper, Inc., which differs from the metadata provided in the request.