Business Context and Reporting Period
Company: BIO-RAD LABORATORIES, INC.
Filing Type: Form 8-K (Current Report)
Date of Report: June 10, 2009
Reporting Period: The filing addresses events occurring on June 10, 2009, regarding the change of the independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is strictly a disclosure of a change in the company's certifying accountant.
Material Changes
- Dismissal of Auditor: On June 10, 2009, the company dismissed Deloitte & Touche LLP as its independent registered public accounting firm.
- Engagement of New Auditor: On June 10, 2009, the company engaged Ernst & Young LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2009.
- Audit History: Deloitte & Touche's audit reports for fiscal years 2008 and 2007 contained no adverse opinions, disclaimers, or qualifications.
- Disagreements: There were no disagreements with Deloitte & Touche regarding accounting principles, practices, financial statement disclosure, or auditing scope/procedures during the relevant periods.
- Consultations: The company had not consulted with Ernst & Young on any matters defined in Item 304(a)(2) of Regulation S-K prior to engagement.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on business operations. The primary risk disclosed is the transition of audit responsibilities. The Audit Committee confirmed that Ernst & Young has no commercial relationships that would impair its independence.
Investor Verification Checklist
- Verify the content of the letter from Deloitte & Touche LLP (Exhibit 16.1) to confirm their agreement with the company's statements regarding the dismissal.
- Confirm the effective date of the engagement with Ernst & Young LLP for the fiscal year ending December 31, 2009.
- Review subsequent filings to ensure the transition of audit duties was completed without material disruption to financial reporting.