Business Context and Reporting Period
This Form 8-K is a current report filed by American BriVision (Holding) Corporation (also referenced as ABVC BIOPHARMA, INC.) on May 6, 2016. The filing addresses a change in the registrant's certifying accountant effective April 30, 2016.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly procedural regarding the appointment of an accounting firm and contains no financial performance data.
Material Changes
- Accountant Merger: The Company's previous auditor, AWC (CPA) Limited ("AWC"), merged with Dominic K.F. Chan & Co ("DKFC") to form DCAW (CPA) Limited ("DCAW").
- Change in Auditor: On May 6, 2016, the Board accepted AWC's resignation and approved the engagement of DCAW as the new independent registered public accounting firm.
- Reporting History: AWC was engaged on February 24, 2016, and had not issued any reports on the Company's financial statements prior to the merger.
Management Commentary and Risks
Management confirmed that during the period AWC was engaged (February 24, 2016, through May 6, 2016), there were no disagreements regarding accounting principles, financial statement disclosures, or auditing scope. Additionally, no reportable events occurred under Item 304(a)(1)(v) of Regulation S-K. The Company also stated that no consultations occurred with the new firm, DCAW, regarding accounting principles or audit opinions during the two most recent fiscal years or through April 30, 2016.
Investor Verification Checklist
- Verify the PCAOB registration status of the new auditor, DCAW (CPA) Limited.
- Review the letter from AWC (CPA) Limited (Exhibit 16.1) to confirm their agreement with the statements made in this filing.
- Confirm the effective date of the auditor change (April 30, 2016) against future financial statement filings.