Business Context and Reporting Period
This Form 8-K was filed by ExlService Holdings, Inc. on February 27, 2018. The report addresses a change in the Company's independent registered public accounting firm. The Company is incorporated in Delaware and maintains its principal executive offices in New York, New York.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document is strictly procedural regarding the appointment of a new auditor.
Material Changes
- Accountant Change: The Company dismissed Ernst & Young LLP ("EY") as its independent registered public accounting firm effective February 27, 2018.
- New Appointment: Deloitte & Touche LLP ("Deloitte") was appointed as the new independent registered public accounting firm for the fiscal year ending December 31, 2018, with an engagement letter entered into on February 28, 2018.
- Audit History: EY's reports for the fiscal years ended December 31, 2016, and 2017 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements between the Company and EY on accounting principles, practices, or auditing scope during the relevant periods.
- Reportable Events: No "reportable events" occurred during the fiscal years ended December 31, 2016 and 2017, or the subsequent interim period through February 27, 2018.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on business operations. It confirms that the Company has not consulted with Deloitte regarding any accounting principles, audit opinions, disagreements, or reportable events prior to the engagement. The filing includes a letter from EY (Exhibit 16.1) confirming their agreement with the statements regarding the lack of disagreements or reportable events.
Investor Verification Checklist
- Verify the effective date of the transition from EY to Deloitte (February 27-28, 2018).
- Review the attached letter from Ernst & Young LLP (Exhibit 16.1) for any additional context on the dismissal.
- Confirm that the change in auditors was not triggered by any undisclosed accounting disputes or reportable events.
- Monitor future filings for the first audit report issued by Deloitte for the fiscal year ending December 31, 2018.