ALPHA & OMEGA SEMICONDUCTOR Ltd current report, 26 September 2011

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Business Context and Reporting Period

This Form 8-K Current Report was filed by Alpha and Omega Semiconductor Limited on September 26, 2011. The filing discloses 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

  • Resignation of Previous Auditor: PricewaterhouseCoopers LLP resigned as the independent registered public accounting firm effective September 26, 2011.
  • Appointment of New Auditor: Grant Thornton LLP was appointed as the new independent registered public accounting firm effective September 26, 2011.
  • Audit History: PricewaterhouseCoopers LLP's reports for the fiscal years ended June 30, 2011, and 2010 were unqualified and did not contain adverse opinions or disclaimers.
  • Disagreements: There were no disagreements with PricewaterhouseCoopers LLP regarding accounting principles, practices, or auditing scope during the two most recent fiscal years or the subsequent interim period.

Guidance, Risks, and Contingencies

The filing references historical material weaknesses identified by PricewaterhouseCoopers LLP during the audit of the fiscal year ended June 30, 2009. These weaknesses related to:

  1. Failure to maintain sufficient accounting personnel with appropriate qualifications.
  2. Accounting for equity method investments.
  3. Accounting for equity instruments.
  4. Certain period-end closing processes.

Management stated that these material weaknesses were remediated as of June 30, 2010. No new risks, contingencies, or forward-looking guidance were disclosed in this specific filing.

Investor Verification Checklist

  • Verify the reasons for the auditor change by reviewing the attached letter from PricewaterhouseCoopers LLP (Exhibit 16.1).
  • Confirm the status of the remediation of the previously disclosed material weaknesses in internal controls.
  • Review the Company's most recent Form 20-F for detailed financial performance data not included in this 8-K.
  • Monitor future filings for the initial audit opinion issued by Grant Thornton LLP.