Business Context and Reporting Period
This Form 8-K is filed by U.S. Auto Parts Network, Inc. (d/b/a Carparts.Com, Inc.) on August 28, 2015. The report discloses a change in the company's independent registered public accounting firm for the fiscal year ending January 2, 2016.
Key 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.
Material Changes
- Dismissal of Auditor: The Audit Committee dismissed Deloitte & Touche LLP (D&T) as the independent registered public accounting firm effective immediately on August 28, 2015.
- Engagement of New Auditor: The Audit Committee approved the engagement of McGladrey LLP as the independent registered public accounting firm for fiscal year 2015.
- Audit History: D&T's reports for fiscal years 2013 and 2014 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements with D&T on accounting principles, practices, disclosures, or auditing scope/procedures during fiscal years 2013 and 2014, or the interim period through August 28, 2015.
- Consultations: The company did not consult with McGladrey regarding matters described in Item 304(a)(2) of Regulation S-K during the relevant periods.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or management commentary on business performance. The primary risk disclosed is the change in auditor, though the company notes no disagreements or reportable events with the outgoing firm. D&T was provided with the disclosures and submitted a letter to the SEC (Exhibit 16.1) indicating their agreement with the disclosures.
Investor Verification Checklist
- Verify the reasons for the auditor change by reviewing the attached letter from Deloitte & Touche LLP (Exhibit 16.1).
- Confirm the effective date of the new engagement with McGladrey LLP.
- Review subsequent filings to ensure the transition of audit responsibilities proceeds without delay.
- Check for any future filings that might disclose disagreements or reportable events not present in this initial 8-K.