Business Context and Reporting Period
This Form 8-K was filed by ExlService Holdings, Inc. on January 30, 2018, with a signature date of February 5, 2018. The filing reports a change in the Company's independent registered public accounting firm for the fiscal year ending December 31, 2018.
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 corporate governance regarding the audit firm.
Material Changes
- Appointment of New Auditor: The Audit Committee approved the engagement of Deloitte & Touch LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2018.
- Dismissal of Prior Auditor: Ernst & Young LLP (EY) was dismissed as the independent registered public accounting firm following the completion of the audit for the fiscal year ended December 31, 2017.
- Audit History: EY's reports for fiscal years 2015 and 2016 contained no adverse opinions, disclaimers, or qualifications.
Outlook, Risks, and Contingencies
Disagreements and Reportable Events: The Company confirmed there were no disagreements with EY regarding accounting principles, financial statement disclosures, or auditing scope during the fiscal years ended December 31, 2015 and 2016, or subsequent interim periods through February 5, 2018. Additionally, no "reportable events" occurred during this timeframe.
Consultations with New Auditor: The Company confirmed that neither it nor anyone on its behalf consulted with Deloitte regarding accounting principles, audit opinions, disagreements, or reportable events prior to the engagement.
Investor Verification Checklist
- Verify the execution of the engagement letter with Deloitte & Touch LLP.
- Review the letter from Ernst & Young LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Monitor future filings for the first financial statements audited by Deloitte for the fiscal year ending December 31, 2018.