Business Context and Reporting Period
Company: Sierra Bancorp
Filing Type: Form 8-K (Current Report)
Date of Report: March 29, 2004
Event: Change in Registrant's Certifying Accountant
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the change of the independent auditor.
Material Changes
- Dismissal of Prior Accountant: The Audit Committee dismissed Perry-Smith, LLP as the principal independent accountant.
- Appointment of New Accountant: Vavrinek, Trine, Day & Co., LLP was selected as the independent accountant for the 2004 fiscal year.
- Audit History: Perry-Smith audited the consolidated financial statements for the years ended December 31, 2003, and 2002.
Guidance, Outlook, and Risks
Disagreements: The Company reported no disagreements with Perry-Smith regarding accounting principles, financial statement disclosure, or auditing scope/procedures for the fiscal years ended December 31, 2003 and 2002, or the interim period from January 1, 2004, through March 29, 2004.
Audit Opinions: Perry-Smith's reports for the last two fiscal years did not contain an adverse opinion, disclaimer of opinion, or qualifications regarding uncertainty, audit scope, or accounting principles.
Procedural Compliance: Perry-Smith was given the opportunity to furnish a letter to the SEC regarding the disclosure, which is filed as an exhibit to this report.
Investor Verification Checklist
- Review the attached Exhibit 16 (Letter re Change in Certifying Accountant) for any additional commentary from the former auditor.
- Verify the qualifications and independence of the newly appointed firm, Vavrinek, Trine, Day & Co., LLP.
- Monitor future filings for the first audit report issued by the new accounting firm.