Business Context and Reporting Period
This Form 8-K filing by Apollo Investment Corporation (trading symbol: AINV) was submitted on March 8, 2022. The report addresses a change in the company's independent registered public accounting firm. The company is incorporated in Maryland and its principal executive offices are located in New York, NY.
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 and does not contain financial performance data.
Material Changes
- Dismissal of PricewaterhouseCoopers LLP (PwC): On March 8, 2022, the Independent Directors dismissed PwC as the independent registered public accounting firm for the fiscal year ending March 31, 2023. The dismissal is effective upon the completion of the audit for the fiscal year ended March 31, 2022.
- Appointment of Deloitte & Touche LLP: On March 8, 2022, the Board of Directors approved the appointment of Deloitte as the new independent registered public accounting firm for the fiscal year ending March 31, 2023, subject to shareholder approval.
- Audit History: Reports by PwC for the fiscal years ended March 31, 2021, and 2020 were unqualified and did not contain adverse opinions or disclaimers.
Guidance, Outlook, and Risks
The filing states there were no "disagreements" or "reportable events" between the company and PwC regarding accounting principles, financial statement disclosure, or auditing scope during the fiscal years ended March 31, 2021 and 2020, or the interim period through March 8, 2022. Additionally, the company confirmed it did not consult with Deloitte regarding any accounting principles or potential audit opinions prior to their appointment. No financial guidance or outlook is provided in this document.
Key Facts for Investor Verification
- Verify the shareholder approval status for the appointment of Deloitte & Touche LLP.
- Review the letter from PwC (Exhibit 16.1) to confirm their agreement with the company's statements regarding the dismissal.
- Monitor future filings for the completion of the fiscal year 2022 audit and the commencement of the 2023 audit by Deloitte.
- Confirm that no undisclosed disagreements or reportable events exist between the company and the former auditor.