Celsius Holdings, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Celsius Holdings, Inc. (CELH) on June 2, 2021. The report addresses a material change in the Company's independent registered public accounting firm.
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 audit firm.
Material Changes
- Termination of Previous Auditor: The Company ended its engagement with Assurance Dimensions as its independent registered public accounting firm, effective upon the filing of the Quarterly Report on Form 10-Q for the quarter ending June 30, 2021.
- Appointment of New Auditor: The Audit Committee approved the appointment of Ernst & Young LLP (EY) as the new independent registered public accounting firm, effective on the same date.
- Audit History: Assurance Dimensions' reports for the fiscal years ended December 31, 2020, and 2019 did not contain adverse opinions, disclaimers, or qualifications.
- Disagreements: There were no disagreements with Assurance Dimensions regarding accounting principles, practices, or auditing scope during the two most recent fiscal years and the subsequent interim period.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, management commentary on future outlook, or specific risk factors beyond the standard disclosure of the auditor change. The transition is presented as a routine governance decision approved by the Audit Committee.
Investor Verification Checklist
- Verify the effective date of the transition from Assurance Dimensions to Ernst & Young LLP (EY).
- Confirm that Assurance Dimensions' letter (Exhibit 16.1) agrees with the Company's statements regarding the termination.
- Review the upcoming Form 10-Q for the quarter ended June 30, 2021, to see the first financial statements audited or reviewed by EY.
- Check for any subsequent filings regarding the reasons for the auditor change if not fully detailed in this 8-K.