Filing Summary: Fidelity National Financial, Inc. (8-K)
Business Context and Reporting Period
This Form 8-K Current Report was filed by Fidelity National Financial, Inc. on August 2, 2017. The report addresses a change in the Company's independent registered public accounting firm for the fiscal year ending December 31, 2017.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance regarding the audit firm and does not contain financial performance data.
Material Changes
- Accountant Change: The Audit Committee approved the engagement of Ernst & Young LLP (E&Y) as the independent registered public accounting firm, effective upon completion of the client acceptance process (completed August 4, 2017).
- Dismissal: KPMG LLP was dismissed from its role as the independent auditor for the 2017 fiscal year.
- Audit History: KPMG's reports for the fiscal years ended December 31, 2016, and 2015 contained no adverse opinions, disclaimers, or qualifications.
- Disagreements: There were no "disagreements" or "reportable events" between the Company and KPMG during the two most recent fiscal years or the interim period through August 2, 2017.
Guidance, Outlook, and Risks
The filing does not contain guidance, outlook, management commentary on operations, or specific risk factors. The transition to E&Y was conducted through a comprehensive, competitive process. No consultations with E&Y regarding accounting matters or disagreements occurred prior to the engagement.
Key Facts for Investor Verification
- Verify the effective date of E&Y's engagement (August 4, 2017) and the completion of their client acceptance process.
- Confirm the absence of any disagreements or reportable events with the former auditor, KPMG, as disclosed in the filing.
- Review the attached Exhibit 16.1 (Letter from KPMG) to ensure the former auditor agrees with the Company's disclosures regarding the change.
- Note that this filing does not impact the Company's financial statements for 2015 or 2016, which were audited by KPMG without qualification.