Business Context and Reporting Period
This Form 8-K filing by the Bristol-Myers Squibb Company Savings and Investment Program (the "Plan") reports a change in independent registered public accounting firms. The report date is March 14, 2006, covering the 2005 and 2006 fiscal years.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the administrative change of auditors for the employee savings plan.
Material Changes
- Appointment of New Auditor: Deloitte & Touche LLP ("D&T") was appointed as the independent registered public accounting firm for the Plan for the 2005 and 2006 fiscal years.
- Dismissal of Prior Auditor: PricewaterhouseCoopers LLP ("PwC") was dismissed as the Plan's auditors.
- Audit Scope: D&T is auditing the Plan's financial statements for the fiscal year ended December 31, 2005.
Management Commentary and Risks
Management confirmed that the reports issued by PwC for the fiscal years ended December 31, 2004, and 2003 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles. There were no disagreements between the Plan and PwC during the two most recent fiscal years regarding accounting principles, practices, financial statement disclosure, or auditing scope. Furthermore, no "reportable events" as defined in Item 304(a)(1)(v) of Regulation S-K occurred. The Company did not consult with D&T regarding matters set forth in Item 304(a)(2)(i) and (ii) of Regulation S-K prior to their appointment.
Investor Verification Checklist
- Verify the transition timeline between PwC and Deloitte & Touche LLP for the Plan's audits.
- Review the attached letter from PwC (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Confirm that this auditor change applies specifically to the Savings and Investment Program and not the parent company's consolidated financial statements.