Business Context and Reporting Period
Company: Western Asset Global High Income Fund Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: August 10, 2017
Reporting Period: The filing addresses events occurring between August 10, 2017, and August 14, 2017, regarding the change of the independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data. The document focuses exclusively on corporate governance regarding the audit firm. Consequently, there are no reported values for revenue, profit, cash flow, margins, debt, or liquidity in this text.
Material Changes
- Resignation of Auditor: KPMG LLP resigned as the independent registered public accounting firm on August 14, 2017, at the request of the Fund.
- Engagement of New Auditor: PricewaterhouseCoopers LLP (PwC) was engaged as the new independent registered public accounting firm, effective August 14, 2017, for the fiscal year ending May 31, 2018.
- Audit History: KPMG's reports for the fiscal years ended May 31, 2017, and May 31, 2016, were unqualified and contained no adverse opinions, disclaimers, or modifications regarding uncertainties, audit scope, or accounting principles.
Management Commentary and Risks
Reason for Change: The Fund explicitly states that the selection of PwC does not reflect any disagreements with or dissatisfaction regarding the performance of KPMG.
Disagreements and Reportable Events: The Fund confirmed there were no disagreements with KPMG on accounting principles, practices, financial statement disclosures, or auditing scope/procedures during the two most recent fiscal years and the subsequent interim period through August 14, 2017. Furthermore, no "reportable events" occurred during this timeframe.
Consultation with New Auditor: The Fund confirmed that neither the Fund nor anyone on its behalf consulted with PwC regarding accounting principles, audit opinions, disagreements, or reportable events prior to the engagement.
Investor Verification Checklist
- Verify the effective date of the transition from KPMG to PwC (August 14, 2017).
- Confirm the absence of any undisclosed disagreements or reportable events in the KPMG resignation letter (Exhibit 16.1).
- Review the Fund's next periodic report (10-K or 10-Q) to assess the impact of the auditor change on future financial disclosures.
- Note that this filing contains no financial performance metrics; refer to the most recent 10-K or 10-Q for revenue and asset data.