Business Context and Reporting Period
This Form 8-K Current Report is filed by HENNESSY ADVISORS, INC. for the reporting period of October 1, 2010. The filing addresses a change in the company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report is a disclosure of a corporate governance event rather than a financial performance report.
Material Changes
- Accountant Change: Effective October 1, 2010, the company's independent registered public accounting firm changed from Stonefield Josephson, Inc. to MarcumStonefield, a division of Marcum LLP.
- Cause of Change: The change resulted from a merger where Stonefield Josephson, Inc. combined its practice with Marcum LLP.
- Approval: The change was approved by the Audit Committee of the Board of Directors.
Outlook, Risks, and Management Commentary
Audit History and Disagreements:
- Reports issued by Stonefield for the years ended September 30, 2008, and 2009 contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- There were no disagreements with Stonefield on accounting principles, financial statement disclosures, or auditing scope/procedures during the relevant periods.
- No reportable events under Item 304(a)(1)(v) of Regulation S-K occurred.
Consultations:
- The company did not consult with Marcum LLP or MarcumStonefield regarding accounting principles, audit opinions, or matters subject to disagreement prior to the effective date of the merger.
Exhibits: A letter from MarcumStonefield (dated October 7, 2010) confirming agreement with the statements in this filing is included as Exhibit 16.1.
Investor Verification Checklist
- Verify the transition of audit responsibilities from Stonefield Josephson, Inc. to MarcumStonefield.
- Review Exhibit 16.1 (Letter Dated October 7, 2010) for the successor accountant's formal confirmation.
- Confirm that no undisclosed disagreements or reportable events existed with the former auditor.