Business Context and Reporting Period
This Form 8-K Current Report was filed by Bridgford Foods Corporation on November 2, 2020. The report addresses a change in the Company's certifying accountant effective November 1, 2020.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to corporate governance and auditor changes.
Material Changes
- Resignation of Auditor: Squar Milner LLP resigned as the Company's independent registered public accounting firm on November 1, 2020.
- Appointment of New Auditor: Baker Tilly US, LLP was engaged as the new independent registered public accounting firm with the approval of the Audit Committee.
- Reason for Change: The change resulted from the combination of Squar Milner's audit practice with Baker Tilly US, LLP.
Guidance, Outlook, and Risks
Management Commentary: The Company confirmed that prior to engaging Baker Tilly, there were no consultations regarding accounting principles, audit opinions, or financial reporting issues. Additionally, there were no disagreements with Squar Milner during the fiscal years ended November 1, 2019, and November 2, 2018, or the interim period through November 1, 2020, regarding accounting principles, practices, or audit scope.
Audit History: The reports issued by Squar Milner for the fiscal years ended November 1, 2019, and November 2, 2018, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
Key Facts for Investor Verification
- Verify the transition timeline and any potential impact on the audit of the fiscal year ending November 2021.
- Confirm that the resignation of Squar Milner was not due to any undisclosed disagreements or financial reporting issues.
- Review the letter from Squar Milner to the SEC (Exhibit 16.1) to ensure they concur with the Company's statements regarding the change.