Business Context and Reporting Period
Company: Kentucky First Federal Bancorp
Filing Type: Form 8-K (Current Report)
Date of Report: July 9, 2007
Principal Office: Hazard, Kentucky
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The report is strictly administrative regarding the change of independent auditors.
Material Changes
- Dismissal of Auditor: Grant Thornton LLP was dismissed as the independent auditor effective immediately on July 9, 2007.
- Engagement of Successor: BKD LLP was engaged as the new independent audit firm on July 9, 2007.
- Reason for Change: Grant Thornton sold its financial institution auditing practice based in Cincinnati, OH, to BKD.
- Approval: The change was approved by the Registrant's Audit Committee on July 9, 2007.
Management Commentary, Risks, and Contingencies
- Audit History: Grant Thornton audited the fiscal years ended June 30, 2006, and 2005. Their reports contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements with Grant Thornton on accounting principles, financial statement disclosure, or auditing scope/procedures during the two most recent fiscal years or the interim period through June 30, 2007.
- Reportable Events: No "reportable events" as defined in Item 304(a)(1)(v) of Regulation S-K occurred during the relevant periods.
- Consultation: The Registrant did not consult with BKD LLP regarding accounting principles or reportable events prior to engagement.
Investor Verification Checklist
- Verify the transition timeline between Grant Thornton and BKD to ensure no gap in audit coverage.
- Review the letter from Grant Thornton LLP (Exhibit 16) to confirm their agreement with the Registrant's disclosures.
- Confirm that the sale of the Cincinnati practice by Grant Thornton was the sole driver for the change, with no underlying audit disputes.