Business Context and Reporting Period
This Form 8-K Current Report was filed by Ladder Capital Corp on February 18, 2022. The filing addresses a corporate governance event regarding the change of the Company's independent registered public accounting firm for the fiscal year ending December 31, 2022.
Key Financial Metrics
This filing does not contain financial performance data. There are no reported values for revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
The primary material change disclosed is the replacement of the Company's external auditor:
- Dismissal: PricewaterhouseCoopers LLP ("PwC") was dismissed as the independent registered public accounting firm effective February 18, 2022.
- Appointment: Ernst & Young LLP ("EY") was appointed as the new independent registered public accounting firm effective February 18, 2022.
- Audit History: PwC's reports for the fiscal years ended December 31, 2021, and December 31, 2020, did not contain adverse opinions, disclaimers, or qualifications.
- Disagreements: The Company reported no disagreements with PwC regarding accounting principles, practices, or auditing scope during the two most recent fiscal years or the subsequent interim period.
Guidance, Outlook, and Risks
This filing contains no financial guidance, outlook, or management commentary regarding future business performance. The document notes that the Audit Committee conducted a competitive process to select the new firm. No specific risks or contingencies related to the audit change were disclosed beyond standard regulatory confirmations.
Investor Verification Checklist
- Verify the effective date of the auditor transition (February 18, 2022).
- Confirm the identity of the new auditor (Ernst & Young LLP) and the former auditor (PricewaterhouseCoopers LLP).
- Review the attached Exhibit 16.1 (Letter from PwC to the SEC) to ensure the former auditor agrees with the Company's disclosures regarding the dismissal.
- Check subsequent filings for the first financial statements audited by EY to assess any potential changes in accounting treatment or disclosure style.