Business Context and Reporting Period
This Form 8-K filing by BRT Realty Trust (also referenced as BRT Apartments Corp.) was submitted on December 28, 2010. The report discloses a material change regarding the company's independent registered public accountants.
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 the appointment of a new auditor and does not contain financial statement data.
Material Changes
- Change in Certifying Accountant: On December 28, 2010, the company executed an engagement letter with BDO USA, LLP ("BDO").
- Scope of Engagement: BDO was engaged as the independent registered public accountants for the fiscal year ending September 30, 2011, and interim periods prior to that date.
- Consultation History: The company confirmed that during the two most recent fiscal years and through December 28, 2010, there were no consultations with BDO regarding accounting principles, audit opinions, or matters described in Item 304(a)(2)(i) or (ii) of Regulation S-K.
Guidance, Outlook, and Risks
The filing does not contain management guidance, outlook, or specific risk factors beyond the standard disclosure of the auditor change. An exhibit (16.1) is included, which is a letter from the former auditor, Ernst & Young, dated January 3, 2011, though the content of that letter is not detailed in the text provided.
Investor Verification Checklist
- Verify the reasons for the departure of the previous auditor (Ernst & Young) by reviewing the attached Exhibit 16.1 letter.
- Confirm the effective date of the new audit engagement with BDO USA, LLP.
- Review subsequent filings to ensure no disagreements with the former auditor regarding accounting principles or financial reporting.