Business Context and Reporting Period
This Form 8-K Current Report is filed by DTE Energy Company and The Detroit Edison Company for the event date of October 21, 2008. The filing addresses a change in the registrants' independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly procedural regarding the appointment of an auditor.
Material Changes
- Appointment of New Auditor: On October 21, 2008, the Audit Committee engaged PricewaterhouseCoopers LLP (PwC) as the independent registered public accounting firm for both DTE Energy and The Detroit Edison Company.
- Effective Date: The engagement with PwC begins with the fiscal year ending December 31, 2009.
- Previous Auditor: The dismissal of the previous independent registered public accounting firm was previously disclosed in a Form 8-K dated September 25, 2008.
Guidance, Outlook, and Management Commentary
The filing confirms that during the two most recent fiscal years (2006 and 2007) and the period from January 1, 2008, through October 21, 2008, neither registrant consulted PwC regarding:
- The application of accounting principles to specified transactions or the type of audit opinion that might be rendered.
- Any matter that was the subject of a disagreement or reportable event as defined in Regulation S-K.
No written reports or oral advice were provided by PwC that were considered important factors in reaching decisions on accounting, auditing, or financial reporting issues.
Investor Verification Checklist
- Verify the details of the previous auditor's dismissal in the Form 8-K filed on October 1, 2008 (dated September 25, 2008).
- Confirm the transition timeline for the new audit firm, PwC, effective for the fiscal year ending December 31, 2009.
- Review the Audit Committee's rationale for the change in certifying accountants, which is not detailed in this specific filing.