Business Context and Reporting Period
This Form 6-K filing by MFC Bancorp Ltd. (not Scully Royalty Ltd.) covers the month of November 2017, with a report date of November 14, 2017. The filing serves to disclose a change in the company's independent auditors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly procedural regarding auditor changes and contains no financial performance data.
Material Changes
- Auditor Resignation: PricewaterhouseCoopers LLP resigned as the Company's auditors effective November 11, 2017, at the request of the Company.
- New Appointment: Moore Stephens LLP was appointed as the successor auditor effective November 11, 2017, for the fiscal year ending December 31, 2017.
- Approval: Both the resignation and appointment were approved by the Company's audit committee and board of directors.
Outlook, Risks, and Management Commentary
Management confirmed that the former auditors' reports for fiscal years 2015 and 2016 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles. The Company stated there were no disagreements with the former auditors on accounting principles, practices, or disclosures during the relevant periods. Additionally, no reportable events occurred prior to the resignation. The Company also confirmed that no consultations regarding accounting principles or disagreements occurred with the successor auditors prior to their appointment.
Investor Verification Checklist
- Verify the identity of the registrant (MFC Bancorp Ltd.) versus the metadata provided (Scully Royalty Ltd.).
- Review Exhibit 99.1 (Letter from PricewaterhouseCoopers LLP) for any additional context on the resignation.
- Confirm the effective date of the new auditor (Moore Stephens LLP) for the 2017 fiscal year.
- Check subsequent filings for the 2017 Form 20-F to ensure the auditor change is reflected in the annual report.