Business Context and Reporting Period
Company: AVIAT NETWORKS, INC.
Filing Type: Form 8-K (Current Report)
Date of Report: September 6, 2012
Reporting Period: The filing addresses events occurring on September 6, 2012, specifically regarding the change of the independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is strictly a disclosure of a corporate governance event.
Material Changes
Change in Certifying Accountant (Item 4.01):
- Dismissal: On September 6, 2012, the Company dismissed Ernst & Young LLP as its independent registered public accounting firm.
- Approval: The decision was approved by the Audit Committee of the Board of Directors.
- Historical Opinions: Reports by Ernst & Young LLP for fiscal years ended July 1, 2011, and June 29, 2012, contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements with Ernst & Young LLP on accounting principles, practices, financial statement disclosure, or auditing scope/procedures during the two most recent fiscal years or the interim period through September 6, 2012.
- Reportable Events: No "reportable events" as defined in Regulation S-K occurred during the relevant periods.
- Appointment: On September 6, 2012, the Audit Committee approved the engagement of KPMG LLP as the new independent registered public accounting firm for the fiscal year ending June 28, 2013.
- Effective Date: The engagement is effective upon completion of KPMG LLP's standard client evaluation procedures.
- Prior Consultations: The Company had not consulted KPMG LLP regarding accounting principles, audit opinions, disagreements, or reportable events prior to this appointment.
Guidance, Outlook, and Risks
This filing does not provide financial guidance, outlook, management commentary on operations, or specific risk factors beyond the standard disclosure regarding the change in auditors. The filing confirms that the change was not precipitated by any disagreement or reportable event.
Important Facts for Investor Verification
- Verify the content of the letter from Ernst & Young LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Monitor the completion of KPMG LLP's client evaluation procedures to confirm the effective date of the new engagement.
- Review subsequent filings to ensure no undisclosed disagreements or reportable events emerge regarding the transition period.