Business Context and Reporting Period
This Form 8-K is a Current Report filed by Atlantic American Corporation on April 3, 2006. The filing addresses a 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 auditor changes and does not contain financial statement data.
Material Changes
- Termination of Prior Auditor: On April 3, 2006, the Audit Committee determined not to renew the engagement of Deloitte & Touche LLP (D&T).
- Appointment of New Auditor: BDO Seidman LLP (BDO) was appointed as the independent registered public accounting firm for the fiscal year ending December 31, 2006, subject to client acceptance procedures.
- Audit History: D&T's reports for the years ended December 31, 2005, and 2004 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements between the Company and D&T on accounting principles, practices, or disclosures during the two most recent fiscal years.
- Reportable Events: No "reportable events" as defined in Regulation S-K, Item 304(a)(1)(v) occurred during the two most recent fiscal years.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future performance. The primary risk disclosed relates to the transition of audit firms. The Audit Committee confirmed that BDO has no commercial relationships with the Company that would impair independence. Additionally, the Company did not consult with BDO regarding accounting matters or events set forth in Regulation S-K, Item 304(a)(2)(i) and (ii) during the two most recent fiscal years.
Investor Verification Checklist
- Verify the content of the letter from Deloitte & Touche LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the change.
- Confirm that BDO Seidman LLP has completed client acceptance procedures and formally accepted the engagement.
- Review subsequent filings to ensure no undisclosed disagreements or reportable events emerged during the transition period.