Business Context and Reporting Period
This Form 8-K is a current report filed by Strategic Storage Trust II, Inc. (the Registrant) on August 29, 2017. The filing addresses a change in the Registrant's independent registered public accounting firm. The Registrant is incorporated in Maryland and maintains its principal executive offices in Ladera Ranch, California.
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 and dismissal of auditors.
Material Changes
- Dismissal of Auditor: On August 29, 2017, the Registrant dismissed CohnReznick LLP as its independent registered public accounting firm, effective immediately. This action was approved by the Audit Committee.
- Appointment of New Auditor: On the same date, the Audit Committee engaged BDO USA, LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2017, effective immediately.
- Audit History: CohnReznick's audit reports for the fiscal years ended December 31, 2016, and 2015, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
Guidance, Outlook, and Risks
The filing states that during the fiscal years ended December 31, 2016 and 2015, and the interim period through August 29, 2017:
- There were no disagreements with CohnReznick on accounting principles, practices, financial statement disclosure, or auditing scope/procedure.
- There were no "reportable events" as defined in Item 304(a)(1)(v) of Regulation S-K.
- There were no prior consultations with BDO USA, LLP regarding accounting principles, audit opinions, or matters that would constitute disagreements or reportable events.
A letter from CohnReznick LLP dated August 31, 2017, confirming their agreement with the statements in this filing, is included as Exhibit 16.1.
Investor Verification Checklist
- Verify the content of the letter from CohnReznick LLP (Exhibit 16.1) to confirm no undisclosed disagreements exist.
- Review the engagement letter with BDO USA, LLP to understand the scope of the new audit for the fiscal year ending December 31, 2017.
- Monitor future filings (e.g., 10-K or 10-Q) for the first financial statements audited by BDO USA, LLP to ensure continuity in reporting standards.
- Confirm that the change in auditors was not precipitated by any undisclosed financial irregularities or governance issues.