Business Context and Reporting Period
This Form 8-K is filed by Homeowners Choice, Inc. (not HCI Group, Inc.) on March 20, 2013. The report discloses a change in the company's independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the administrative change of auditors.
Material Changes
- Accountant Change: The audit committee has engaged Dixon Hughes Goodman LLP to replace Hacker, Johnson & Smith P.A. as the independent registered public accounting firm, effective March 20, 2013.
- Historical Audit Opinions: The audit reports issued by the former firm (Hacker, Johnson & Smith P.A.) for the years ended December 31, 2011, and 2012, as well as the internal control report for 2012, were unqualified and contained no adverse opinions, disclaimers, or modifications.
- Disagreements: There were no disagreements between the company and the former firm regarding accounting principles, practices, financial statement disclosures, or auditing scope during the two fiscal years ended December 31, 2012.
- Consultations: The company did not consult with the new firm (Dixon Hughes Goodman LLP) regarding accounting principles or audit opinions prior to their engagement.
Guidance, Outlook, and Risks
The filing contains no management guidance, financial outlook, or discussion of business risks. The primary contingency noted is the transition of audit responsibilities, which was executed without reported conflict or "reportable events" as defined by Regulation S-K.
Investor Verification Checklist
- Verify the reason for the auditor change, as the filing states no disagreements occurred but does not explicitly detail the strategic rationale beyond the committee's determination.
- Review the letter from the former auditor (Hacker, Johnson & Smith P.A.) filed as Exhibit 16 to confirm their agreement with the company's statements regarding the lack of disagreements.
- Confirm the effective date of the new auditor's engagement for the fiscal year ending December 31, 2013.