Hanmi Financial Corp. 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed by Hanmi Financial Corporation on July 2, 2019. The report discloses a change in the Company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on the appointment of a new auditor.
Material Changes
On July 2, 2019, the Audit Committee of the Board of Directors engaged Crowe LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2019. This represents a change from the previous certifying accountant.
Consulting Services and Disagreements
During the two most recent fiscal years (2017 and 2018) and the interim period through July 2, 2019, the Company consulted with Crowe LLP on the following matters, all delivered in 2018:
- Consulting services related to compliance with the Company's loss share agreement for the years ending December 31, 2017 and 2016.
- Consulting services including review of management memoranda and discussions on business combinations, earnings per share, segment reporting, and goodwill impairment analysis.
- Property tax return preparation and audit services for municipal filings from 2014 through 2017.
The filing states that there were no disagreements with Crowe LLP regarding accounting principles, audit opinions, or reportable events. No other consultations regarding significant accounting or financial reporting issues occurred.
Investor Verification Checklist
- Verify the identity of the previous independent registered public accounting firm being replaced.
- Confirm the effective date of the engagement with Crowe LLP for the 2019 fiscal year.
- Review the Company's subsequent filings (e.g., 10-K or 10-Q) to assess the impact of the auditor change on financial reporting.
- Check for any related press releases or investor communications explaining the rationale for the change in auditors.