AZZ INC Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by AZZ INC on August 2, 2006. The report addresses a material change in the Company's independent registered public accounting firm.
Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the change of auditors and does not contain financial statement data.
Material Changes
- Termination of Prior Auditor: On August 2, 2006, AZZ INC terminated the engagement of Ernst & Young LLP (E&Y) as its independent registered public accounting firm.
- Engagement of New Auditor: On August 2, 2006, the Company engaged BDO Seidman, LLP (BDO) as its new independent registered public accounting firm to audit financial statements and perform procedures for quarterly reports for the year ending February 28, 2007.
- Audit Committee Approval: The Audit Committee of the Board of Directors participated in and approved both the termination of E&Y and the engagement of BDO.
Management Commentary, Risks, and Contingencies
- Historical Opinions: E&Y's reports for the years ended February 28, 2006, and February 28, 2005, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements with E&Y on accounting principles, practices, financial statement disclosure, or auditing scope/procedures during the relevant periods that would have required reference in their reports.
- Reportable Events: No reportable events, as defined in Item 304 of Regulation S-K, occurred during the years ended February 28, 2006 and 2005, or through August 2, 2006.
- Consultation with New Auditor: The Company did not consult with BDO regarding any matters described in Item 304(a)(2)(i) or (ii) of Regulation S-K prior to engagement.
- Exhibit: A letter from Ernst & Young LLP (Exhibit 16.1) is attached, stating whether they agree with the Company's statements regarding the change.
Key Facts for Investor Verification
- Verify the content of the letter from Ernst & Young LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the termination.
- Confirm the effective date of BDO Seidman, LLP's engagement for the fiscal year ending February 28, 2007.
- Review subsequent filings (e.g., Form 10-Q) to ensure the transition to the new auditor did not result in restatements or qualified opinions.