Business Context and Reporting Period
This Form 8-K Current Report was filed by SandRidge Energy, Inc. on April 24, 2023. The report addresses a change in the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023.
Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance regarding the audit firm.
Material Changes
- Dismissal of Previous Auditor: The Audit Committee dismissed Moss Adams LLP as the independent registered public accounting firm. The dismissal is effective on the later of May 6, 2023, or the filing date of the Form 10-Q for the period ended March 31, 2023.
- Engagement of New Auditor: The Audit Committee appointed Grant Thornton LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2023.
- Audit History: Moss Adams' report for the fiscal year ended December 31, 2022, contained no adverse opinions, disclaimers, or qualifications. There were no disagreements between the Company and Moss Adams regarding accounting principles, practices, or auditing scope during the 2022 fiscal year or through April 24, 2023.
- Consultation with New Auditor: The Company confirms no consultations with Grant Thornton regarding reportable events or accounting matters prior to their engagement.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or management commentary on operational performance. The primary risk disclosed relates to the transition of the audit firm, though the Company states the change was not due to any disagreements or reportable events.
Key Facts for Investor Verification
- Verify the effective date of the Moss Adams dismissal against the filing date of the Q1 2023 Form 10-Q.
- Review the attached letter from Moss Adams LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Monitor the upcoming Form 10-Q for the period ended March 31, 2023, to see the first financial statements audited or reviewed under the new firm, Grant Thornton LLP.