Business Context and Reporting Period
This Form 8-K Current Report was filed by Alpha & Omega Semiconductor Ltd on September 11, 2018. The filing primarily addresses a change in the Company's independent registered public accounting firm.
Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance regarding the audit firm.
Material Changes
- Dismissal of Auditor: The Company dismissed Grant Thornton LLP as its independent registered public accounting firm effective September 11, 2018.
- Engagement of New Auditor: On September 17, 2018, the Audit Committee and Board of Directors approved the engagement of BDO USA, LLP to serve as the new independent registered public accounting firm.
- Audit History: Grant Thornton's reports for the fiscal years ended June 30, 2018, and 2017 were unqualified and did not contain adverse opinions, disclaimers, or modifications regarding uncertainty, scope, or accounting principles.
- No Disagreements: There were no disagreements with Grant Thornton regarding accounting principles, practices, or auditing scope during the two most recent fiscal years or the interim period through September 11, 2018.
- No Reportable Events: No reportable events occurred during the relevant periods with the former auditor.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on business operations. It confirms that no consultations were held with the new auditor (BDO) regarding accounting principles or potential audit opinions prior to their engagement. The filing includes a letter from Grant Thornton (Exhibit 16.1) confirming their agreement with the statements regarding the dismissal.
Key Facts for Investor Verification
- Verify the effective date of the transition from Grant Thornton LLP to BDO USA, LLP.
- Confirm that the dismissal of the prior auditor was not due to any disagreements on accounting or auditing matters.
- Review the attached letter from Grant Thornton (Exhibit 16.1) for any additional context regarding the termination.
- Note that this filing does not impact the previously issued financial statements for fiscal years 2017 and 2018.