Business Context and Reporting Period
This Form 8-K filing by First Northern Community Bancorp (California) covers the date of March 28, 2006. The report details a significant corporate governance event regarding the change of the company's independent registered public accounting firm.
Financial Metrics
This filing does not contain financial performance data. There are no disclosures regarding revenue, profit, cash flow, margins, debt, or liquidity metrics within this specific document.
Material Changes
- Dismissal of Auditor: On March 28, 2006, the Audit Committee dismissed KPMG LLP as the independent registered public accounting firm.
- Engagement of New Auditor: On the same date, the company engaged Moss Adams LLP as its new independent registered public accounting firm.
- Audit History: KPMG's audit reports for the years ended December 31, 2005, and 2004, including internal control assessments, were unqualified and contained no adverse opinions or disclaimers.
Management Commentary and Risks
- No Disagreements: The company reported no disagreements with KPMG during the two most recent fiscal years or the interim period through March 28, 2006, regarding accounting principles, financial statement disclosure, or auditing scope.
- No Reportable Events: There were no reportable events of the type required to be disclosed under Item 304(a)(1)(v) of Regulation S-K during the relevant period.
- Consultation with New Firm: The company did not consult with Moss Adams LLP regarding any matters described in Item 304(a)(2)(i) or (ii) of Regulation S-K prior to engagement.
Key Facts for Investor Verification
- Verify the rationale for the auditor change in the accompanying letter from KPMG (Exhibit 16.1).
- Confirm the transition timeline and any potential impact on the upcoming audit cycle with Moss Adams LLP.
- Review subsequent filings to ensure no undisclosed disagreements or issues arose during the transition period.