Business Context and Reporting Period
Company: SMARTFINANCIAL INC. (Ticker: SMBK)
Filing Type: Form 8-K (Current Report)
Date of Event: May 29, 2025
Reporting Period: Immediate disclosure of corporate governance changes regarding the independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data. The document reports no values for revenue, profit, cash flow, margins, debt, or liquidity. It confirms that the audit reports for the fiscal years ended December 31, 2024, and 2023, did not contain adverse opinions, disclaimers, or qualifications.
Material Changes
- Dismissal of Auditor: On May 29, 2025, the Company dismissed Forvis Mazars, LLP as its independent registered public accounting firm, effective immediately.
- Engagement of New Auditor: On May 30, 2025, the Company engaged Elliott Davis, PLLC to serve as the independent registered public accounting firm for the fiscal year ending December 31, 2025, subject to standard client acceptance procedures.
- Audit Committee Action: Both the dismissal and the new engagement were approved by the Audit Committee of the Board of Directors.
Management Commentary, Risks, and Contingencies
- No Disagreements: The Company stated there were no disagreements with Forvis Mazars, LLP regarding accounting principles, financial statement disclosures, or auditing scope during the two most recent fiscal years or the interim period through May 29, 2025.
- No Reportable Events: The Company confirmed no "reportable events" occurred during the same periods.
- Consultation with New Auditor: The Company confirmed no consultations occurred with Elliott Davis, PLLC regarding accounting principles or reportable events prior to their engagement.
- Former Auditor Response: Forvis Mazars, LLP provided a letter to the SEC (Exhibit 16.1) regarding the dismissal, which was filed with this report.
Investor Verification Checklist
- Review Exhibit 16.1 (Letter from Forvis Mazars, LLP) to confirm the former auditor's stance on the dismissal.
- Monitor future filings for the completion of Elliott Davis, PLLC's client acceptance procedures.
- Verify the rationale for the auditor change in subsequent earnings calls or press releases, as the 8-K does not explicitly state the business reason beyond the Audit Committee's direction.
- Check for any pending regulatory inquiries related to the change in accounting firm.