Business Context and Reporting Period
This Form 8-K is filed by Comcast Corporation regarding the Comcast-Spectacor 401(k) Plan. The report date is March 25, 2005, covering an event that occurred on March 23, 2005.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity for Comcast Corporation or the 401(k) Plan. The document is strictly a disclosure regarding a change in the Plan's certifying accountant.
Material Changes
The primary material change disclosed is the departure of the Plan's auditor, Grant Thornton LLP, who will not stand for re-appointment. The filing confirms that:
- Audit reports for fiscal years ended December 31, 2003, and December 31, 2002, contained no adverse opinions, disclaimers, or qualifications.
- There were no disagreements between the Plan and Grant Thornton LLP regarding accounting principles, practices, or audit scope during the fiscal years 2002-2003 or the interim period through March 25, 2005.
- No "reportable events" as defined in Regulation S-K occurred during these periods.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, or management commentary regarding future financial performance. The only risk or contingency noted is the administrative necessity of appointing a new auditor for the 401(k) Plan. A letter from Grant Thornton LLP confirming their agreement with the statements in this report is filed as Exhibit 16.1.
Investor Verification Checklist
- Verify the appointment of a new independent auditor for the Comcast-Spectacor 401(k) Plan.
- Confirm that the departure of Grant Thornton LLP was not due to any undisclosed accounting disputes or reportable events.
- Note that this filing pertains to a specific employee benefit plan and does not reflect a change in Comcast Corporation's primary external auditor.