Business Context and Reporting Period
This Form 8-K is a current report filed by TSS, Inc. on February 10, 2014. The filing addresses a change in the registrant's certifying accountant.
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 independent auditor.
Material Changes
On February 10, 2014, TSS, Inc. re-engaged Grant Thornton LLP as its independent registered public accounting firm. Grant Thornton had previously served as the Company's auditor from April 20, 2007, until September 17, 2013.
Management Commentary and Risks
- Audit History: Grant Thornton issued an unqualified audit opinion on the consolidated financial statements for the fiscal year ended December 31, 2012. The report contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements with Grant Thornton during the fiscal year ended December 31, 2012, or through September 17, 2013, regarding accounting principles, practices, or auditing scope.
- Reportable Events: No "reportable events" occurred during the period from December 31, 2012, through September 17, 2013.
- Interim Consultations: Between September 17, 2013, and the re-engagement on February 10, 2014, the Company did not consult with Grant Thornton on accounting principles or potential audit opinions, nor were there any disagreements or reportable events during this interim period.
Investor Verification Checklist
- Verify the identity of the independent auditor serving the Company between September 17, 2013, and February 10, 2014.
- Confirm the reasons for the initial departure of Grant Thornton in September 2013, as this filing only details the re-engagement.
- Review the most recent financial statements to ensure they reflect the current auditor's oversight.