Business Context and Reporting Period
This Form 8-K filing by Heritage Insurance Holdings, Inc. (Delaware) reports a corporate governance event dated June 14, 2018. The filing addresses a change in the Company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the change of auditors.
Material Changes
- Dismissal of Auditor: On June 14, 2018, the Audit Committee dismissed Grant Thornton LLP as the independent registered public accounting firm.
- Engagement of New Auditor: On June 14, 2018, the Audit Committee approved the engagement of Plante & Moran, PLLC as the new independent registered public accounting firm for the fiscal year ending December 31, 2018, and related interim periods.
- Audit History: The audit reports for the fiscal years ended December 31, 2017, and December 31, 2016, issued by Grant Thornton, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: The Company reported no disagreements with Grant Thornton on accounting principles, practices, or auditing scope during the two most recent fiscal years or the interim period through June 14, 2018. No "reportable events" occurred.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or management commentary regarding business performance. The primary risk disclosed is the transition of the external audit function. The Company confirmed that no consultations were held with Plante & Moran regarding accounting principles or audit opinions prior to their engagement.
Investor Verification Checklist
- Verify the reasons for the dismissal of Grant Thornton LLP, as the filing states no disagreements or reportable events occurred.
- Confirm the completion of Plante & Moran's client acceptance process and their official appointment for the 2018 fiscal year.
- Review the letter from Grant Thornton LLP (Exhibit 16.1) to ensure they concur with the Company's statements regarding the dismissal.
- Monitor future filings for any impact on the audit timeline or financial reporting schedule due to the auditor change.