Business Context and Reporting Period
This Form 8-K Current Report was filed by Waterstone Financial, Inc. on January 17, 2023. The filing addresses a change in the registrant's certifying accountant.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance regarding the external audit firm.
Material Changes
- Dismissal of Prior Accountant: CliftonLarsonAllen LLP (CLA) will not stand for re-appointment following the completion of the 2022 audit cycle. CLA is ceasing to provide certain audit services to SEC registrants.
- Appointment of New Accountant: The Audit Committee approved the appointment of FORVIS, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2023.
- Effective Date: The appointment of FORVIS is effective upon the completion of the 2022 audit by CLA.
Management Commentary and Risks
- Audit History: CLA's audit report for the year ended December 31, 2021, contained no adverse opinions, disclaimers, or qualifications.
- Disagreements: There were no disagreements with CLA regarding accounting principles, practices, financial statement disclosures, or auditing scope during 2021, 2022, or the interim period through January 17, 2023.
- Consultations: The Company did not consult with FORVIS regarding accounting principles, audit opinions, or reportable events prior to their engagement.
Investor Verification Checklist
- Verify the transition timeline between CLA and FORVIS to ensure no gap in audit coverage.
- Review the attached letter from CLA (Exhibit 16.1) to confirm their agreement with the disclosures made in this report.
- Monitor future filings for the completion of the 2022 audit and the issuance of the new audit opinion by FORVIS.