Business Context and Reporting Period
This Form 8-K filing by Plumas Bancorp was submitted on December 19, 2013. The report discloses a material change in the company's independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data. There are no reported figures for revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
- Dismissal of Auditor: The Audit Committee dismissed Crowe Horwath LLP as the independent registered public accounting firm upon completion of the audit for the fiscal year ending December 31, 2013. Crowe Horwath LLP had served the company since the year ended December 31, 2011.
- Appointment of New Auditor: The Audit Committee appointed Vavrinek, Trine, Day & Company, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2014.
- Audit History: The filing states that the audit reports issued by Crowe Horwath LLP for the years ended December 31, 2012, and 2011 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: The company reported no disagreements with Crowe Horwath LLP regarding accounting principles, financial statement disclosures, or auditing scope/procedures during the relevant periods.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future performance. No specific risks or contingencies were disclosed other than the standard disclosure regarding the change in auditors. The company confirmed that no reportable events occurred within the meaning of Item 304(a)(1)(v) of Regulation S-K during the tenure of the former auditor.
Investor Verification Checklist
- Verify the reasons for the auditor change by reviewing the letter from Crowe Horwath LLP (Exhibit 16.1) to confirm their agreement with the company's statements.
- Confirm the transition timeline for the new auditor, Vavrinek, Trine, Day & Company, LLP, for the 2014 fiscal year.
- Review the upcoming 2013 annual report (10-K) to ensure the financial statements are audited without qualification by the new firm.