Madison Square Garden Sports Corp. current report, 18 November 2020

Vollständiges Dokument

Business Context and Reporting Period

This Form 8-K Current Report was filed by Madison Square Garden Sports Corp. on November 18, 2020. The filing addresses a change in the Company's independent registered public accounting firm for the fiscal year ending June 30, 2021.

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 procedural regarding the appointment of an auditor.

Material Changes

  • Appointment of New Auditor: The Audit Committee selected Deloitte & Touche LLP as the independent registered public accounting firm, effective November 18, 2020.
  • Dismissal of Prior Auditor: KPMG LLP was dismissed as the independent registered public accounting firm on November 18, 2020.
  • Audit Opinions: KPMG's reports for the fiscal years ended June 30, 2020, and 2019 contained unqualified opinions. The 2020 report included an explanatory paragraph regarding the adoption of ASC Topic 842 (Leases) and ASC Topic 606 (Revenue from Contracts with Customers).

Guidance, Outlook, and Risks

The filing states there were no disagreements between the Company and KPMG regarding accounting principles, financial statement disclosure, or auditing scope during the fiscal years ended June 30, 2020 and 2019, or the interim period through November 18, 2020. No "reportable events" occurred during these periods. The Company has not consulted with Deloitte regarding matters described in Items 304(a)(2)(i) and (ii) of Regulation S-K prior to this appointment.

Investor Verification Checklist

  • Verify the effective date of the auditor change (November 18, 2020).
  • Confirm the identity of the new auditor (Deloitte & Touche LLP) and the dismissed auditor (KPMG LLP).
  • Review the attached letter from KPMG (Exhibit 16.1) to confirm their agreement with the statements regarding the absence of disagreements.
  • Note that this filing does not provide updated financial results or guidance; refer to the most recent 10-Q or 10-K for financial metrics.