Business Context and Reporting Period
Company: Atlantic American Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: September 13, 2018
Reporting Period: The filing addresses a corporate governance event occurring on September 13, 2018, specifically regarding the appointment of a new independent registered public accounting firm effective for the quarter ending September 30, 2018, and the fiscal year ending December 31, 2018.
Key Financial Metrics
This filing does not contain financial performance data. There are no disclosures regarding revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
The primary material change reported is the replacement of the Company's independent registered public accounting firm:
- Outgoing Auditor: BDO USA, LLP ("BDO") was terminated effective September 13, 2018.
- Incoming Auditor: Dixon Hughes Goodman LLP ("Dixon Hughes") was appointed effective September 13, 2018.
- Scope of Change: The new engagement covers the quarter ending September 30, 2018, and the fiscal year ending December 31, 2018.
Management Commentary, Risks, and Contingencies
Audit History and Disagreements: The Audit Committee confirmed that BDO's audit reports for the years ended December 31, 2016, and 2017 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles. Furthermore, there were no disagreements with BDO on accounting principles, practices, or auditing scope during those periods or through the date of the report.
Consultations: The Company confirmed that neither it nor anyone on its behalf consulted with Dixon Hughes regarding any matters that would require disclosure under Item 304(a)(2) of Regulation S-K prior to the appointment.
Confirmation: BDO provided a letter dated September 14, 2018, confirming its agreement with the disclosures made in this report regarding the change in accountant.
Investor Verification Checklist
- Verify the effective date of the new audit engagement (Quarter ending September 30, 2018).
- Confirm the absence of any undisclosed disagreements with the former auditor (BDO) regarding accounting principles or audit scope.
- Review the attached Exhibit 16.1 (Letter from BDO) to ensure the former auditor concurs with the Company's statements.
- Monitor future filings (10-Q/10-K) for the first financial statements audited by Dixon Hughes Goodman LLP.