FS KKR Capital Corp. Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by FS KKR Capital Corp. on March 22, 2019, reporting events occurring between March 22, 2019, and March 26, 2019. The filing addresses a change in the Company's 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 focuses exclusively on corporate governance regarding the external auditor.
Material Changes
- Dismissal of Previous Auditor: On March 22, 2019, the Company dismissed RSM US LLP as its independent registered public accounting firm. The Audit Committee approved this action.
- Engagement of New Auditor: On March 26, 2019, the Company engaged Deloitte & Touche LLP as its new independent registered public accounting firm for the fiscal year ending December 31, 2019.
- Audit History: RSM's reports for the years ended December 31, 2018, and 2017 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements with RSM on accounting principles, practices, or auditing scope during the relevant periods. No "reportable events" occurred.
- Consultations: The Company had no prior consultations with Deloitte regarding accounting principles, audit opinions, or reportable events prior to their engagement.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary on business performance. The primary risk disclosed is the transition of the external audit function, though the Company states the change was not due to any disagreement or reportable event.
Investor Verification Checklist
- Verify the content of the letter from RSM US LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Confirm the effective date of Deloitte & Touche LLP's engagement for the 2019 fiscal year.
- Review subsequent filings to ensure the transition of audit responsibilities proceeds without delay or qualification.