Business Context and Reporting Period
Company: LiveWire Group, Inc. (LVWR)
Filing Type: Form 8-K (Current Report)
Date of Report: February 27, 2025
Reporting Period: Immediate event regarding auditor change effective February 26, 2025.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is strictly a disclosure of a change in the registrant's certifying accountants.
Material Changes
- Dismissal of Auditor: The Audit Committee dismissed Ernst & Young LLP (EY) as the independent registered public accounting firm, effective immediately on February 26, 2025.
- Appointment of New Auditor: KPMG LLP was appointed as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
- Audit History: EY's reports for fiscal years 2023 and 2024 contained no adverse opinions, disclaimers, or qualifications.
- Disagreements: No disagreements or reportable events occurred between the Company and EY during the 2023-2024 fiscal years or the interim period through February 27, 2025.
Guidance, Outlook, and Risks
Management Commentary: The change in auditors followed a comprehensive selection process approved by the Audit Committee. The Company confirmed that EY was informed of the dismissal on February 27, 2025, and EY provided a letter agreeing with the Company's statements regarding the absence of disagreements.
Consultation with New Auditor: The Company did not consult with KPMG regarding accounting principles, audit opinions, or any matters that would constitute a disagreement or reportable event prior to their appointment.
Risks and Contingencies: No specific financial risks or contingencies are detailed in this filing beyond the standard disclosure of the auditor transition.
Investor Verification Checklist
- Verify the rationale for the auditor change in the Company's subsequent earnings call or investor presentation.
- Review the letter from Ernst & Young LLP (Exhibit 16.1) to confirm their concurrence with the Company's statements.
- Monitor upcoming filings (10-K/10-Q) to ensure a smooth transition of audit responsibilities to KPMG.
- Check for any future disclosures regarding disagreements or reportable events that may have arisen post-filing.