Business Context and Reporting Period
Company: Penumbra, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: March 17, 2024
Reporting Period: The filing addresses the appointment of an independent registered public accounting firm for the fiscal year ending December 31, 2024.
Key Financial Metrics
This filing does not contain financial performance data. There are no disclosures regarding revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
The primary material change reported is the replacement of the Company's independent registered public accounting firm:
- Appointed: PricewaterhouseCoopers LLP ("PwC") was appointed as the independent registered public accounting firm for the fiscal year ending December 31, 2024, subject to standard client acceptance procedures.
- Dismissed: Deloitte & Touche LLP ("Deloitte") was dismissed as the independent registered public accounting firm.
- Audit History: Deloitte's reports for the fiscal years ended December 31, 2023, and 2022, contained no adverse opinions, disclaimers, or qualifications.
Management Commentary, Risks, and Contingencies
Disagreements and Reportable Events: The Company confirmed that during the fiscal years ended December 31, 2023 and 2022, and the interim period through March 17, 2024, there were no "disagreements" or "reportable events" between the Company and Deloitte regarding accounting principles, financial statement disclosure, or auditing scope.
Consultations with New Auditor: During the same periods, neither the Company nor anyone on its behalf consulted with PwC regarding the application of accounting principles, the type of audit opinion, or any matters that would constitute a disagreement or reportable event.
Confirmation: Deloitte has provided a letter agreeing with the statements made in this report regarding the change in accountant.
Investor Verification Checklist
- Verify the completion of PwC's standard client acceptance procedures to confirm the appointment is finalized.
- Review the letter from Deloitte & Touche LLP (Exhibit 16.1) to confirm their agreement with the Company's disclosures.
- Monitor future filings for any potential delays in the audit process or financial statement issuance resulting from the auditor transition.