Business Context and Reporting Period
This Form 8-K was filed by Liquidity Services, Inc. (LQDT) on December 20, 2021. The report discloses a change in the Company's independent registered public accounting firm for the fiscal year ending September 30, 2022.
Key Financial Metrics
This filing does not contain financial performance data. There are no reported values for revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
- Accountant Change: The Audit Committee approved the engagement of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending September 30, 2022.
- Dismissal: Ernst & Young LLP (EY) was dismissed as the Company's auditor.
- Audit History: EY's audit reports for the fiscal years ended September 30, 2021, and 2020, did not contain adverse opinions, disclaimers, or qualifications.
- Disagreements: There were no disagreements between the Company and EY regarding accounting principles, practices, financial statement disclosures, or auditing scope/procedures during the relevant periods.
- Reportable Events: No "reportable events" occurred during the fiscal years ended September 30, 2021 and 2020, or the interim period through December 20, 2021.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on future performance. It confirms that the Company did not consult with Deloitte regarding accounting principles or audit opinions prior to the engagement. The filing includes a letter from EY (Exhibit 16.1) stating their agreement with the disclosures made in the report.
Investor Verification Checklist
- Verify the effective date of the transition from EY to Deloitte for the 2022 fiscal year audit.
- Review the letter from Ernst & Young LLP (Exhibit 16.1) for any additional context regarding the dismissal.
- Confirm that no undisclosed disagreements or reportable events exist by cross-referencing with the most recent 10-K or 10-Q filings.