SEC Filing Summary: Central Valley Community Bancorp (Form 8-K)
Business Context and Reporting Period
This Current Report (Form 8-K) was filed by Central Valley Community Bancorp on November 4, 2011. The filing addresses a change in the company's independent registered public accounting firm effective for the fiscal year ending December 31, 2011.
Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to corporate governance and auditor changes.
Material Changes
- Auditor Dismissal: Perry-Smith LLP was dismissed as the independent registered public accounting firm.
- New Auditor Appointment: Crowe Horwath LLP was appointed as the new independent registered public accounting firm for the year ending December 31, 2011.
- Reason for Change: The change resulted from a transaction closed on November 1, 2011, wherein Crowe acquired certain assets of Perry-Smith, and certain Perry-Smith personnel became associated with Crowe.
Guidance, Outlook, and Risks
Audit History and Disagreements: The reports issued by Perry-Smith LLP for the years ended December 31, 2010, and 2009, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles. There were no disagreements between the Company and the predecessor auditor on accounting principles, practices, or financial statement disclosures during these periods or through November 4, 2011.
Reportable Events: No "reportable events" as defined in Item 304(a)(1)(v) of Regulation S-K occurred during the relevant periods.
Consultations: The Company did not consult Crowe Horwath LLP regarding accounting principles, audit opinions, or matters subject to disagreement with the predecessor auditor prior to this appointment.
Key Facts for Investor Verification
- Verify the transition timeline between Perry-Smith LLP and Crowe Horwath LLP to ensure continuity in audit oversight.
- Review the attached letter from Perry-Smith LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal and lack of disagreements.
- Confirm that the auditor change was solely due to the asset acquisition transaction and not due to undisclosed financial or operational issues.