Business Context and Reporting Period
Company: FutureFuel Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: June 18, 2019
Reporting Period: Event date of June 18, 2019; references financial periods ending December 31, 2018, and December 31, 2017.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is a current report regarding a change in the company's certifying accountant.
Material Changes
- Accountant Change: The Audit Committee approved the appointment of RSM US LLP as the new independent registered public accounting firm for the year ending December 31, 2019.
- Dismissal of Prior Firm: RubinBrown LLP was dismissed as the independent registered public accounting firm effective upon completion of procedures for the quarter ending June 30, 2019.
- Effective Date: The change becomes effective upon RSM's completion of its client acceptance process and execution of an engagement letter.
Guidance, Outlook, and Risks
Management Commentary: The filing states there were no disagreements with RubinBrown regarding accounting principles, financial statement disclosure, or auditing scope during the two most recent fiscal years and the interim period through June 18, 2019.
Audit Opinions: RubinBrown's audit reports for the years ended December 31, 2018, and 2017, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
Consultations: The Company did not consult RSM on any accounting or auditing matters during the relevant periods prior to the appointment.
Investor Verification Checklist
- Verify the execution of the engagement letter between FutureFuel Corp. and RSM US LLP to confirm the effective date of the new auditor.
- Review the attached Exhibit 16.1 (Letter from RubinBrown) to confirm the former auditor's agreement with the Company's disclosures.
- Monitor the upcoming Form 10-Q for the quarter ending June 30, 2019, to confirm the transition of audit responsibilities.