Business Context and Reporting Period
Company: Campbell Soup Company
Filing Type: Form 8-K (Current Report)
Date of Report: February 17, 2005
Subject: Change in Registrant's Independent Registered Public Accounting Firm for specific employee benefit plans.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity metrics for the company. The report is strictly administrative regarding the audit of employee savings plans.
Material Changes
- Dismissal of Auditor: On February 17, 2005, the Audit Committee dismissed PricewaterhouseCoopers LLP (PwC) as the independent registered public accounting firm for the Campbell Soup Company Savings and 401(k) Plans (Salaried and Hourly).
- Continuity of Corporate Audit: PwC will continue to serve as the independent auditor for Campbell Soup Company's consolidated financial statements.
- Appointment of New Auditor: The Administrative Committee engaged The Siegfried Group LLP to audit the Savings Plans for the year ended December 31, 2004.
- Audit History: PwC's reports for the years ended December 31, 2003, and 2002 contained no adverse opinions, disclaimers, or qualifications. There were no disagreements with PwC regarding accounting principles, practices, or audit scope during the relevant periods.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future performance. No risks or contingencies related to the company's operations were disclosed. The change in auditors for the Savings Plans was not accompanied by any "reportable events" as defined in Regulation S-K.
Investor Verification Checklist
- Verify that PwC remains the auditor for Campbell Soup Company's primary consolidated financial statements.
- Confirm the scope of The Siegfried Group LLP's engagement is limited to the Savings Plans.
- Review the attached letter from PwC (Exhibit 16.1) to confirm their agreement with the company's statements regarding the dismissal.