Hippo Holdings Inc. — Form 8-K Summary
Business context and reporting period
Hippo Holdings Inc. filed a Form 8-K reporting changes to its independent registered public accounting firm. The Audit Committee acted on March 17, 2023; the report was signed and filed on March 23, 2023. The change applies to the fiscal year ending December 31, 2023.
Financial metrics and liquidity
This filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other operating or financial metrics.
Material changes versus the prior comparable period
- EY had served as Hippo’s independent registered public accounting firm since 2019.
- On March 17, 2023, the Audit Committee approved EY’s dismissal and appointed Deloitte & Touche LLP for the 2023 fiscal year.
- Deloitte’s appointment remained subject to completion of its standard client acceptance procedures and execution of an engagement letter.
Management commentary, risks, and unusual items
- EY’s audit reports on the consolidated financial statements for fiscal years 2022 and 2021 contained no adverse opinion or disclaimer and were not qualified or modified for uncertainty, audit scope, or accounting principles.
- Hippo reported no disagreements with EY regarding accounting principles, financial statement disclosure, or audit scope or procedures during fiscal years 2021 and 2022 or the subsequent interim period through March 17, 2023.
- Hippo also reported no “reportable events” during those periods.
- Hippo stated that neither it nor anyone acting on its behalf consulted Deloitte during the relevant periods regarding accounting principles, audit opinions, disagreements, or reportable events.
- EY’s March 23, 2023 letter to the SEC is included as Exhibit 16.1.
Important facts for investors to verify
- Verify completion of Deloitte’s client acceptance procedures and execution of the engagement letter.
- Review Exhibit 16.1 for EY’s response regarding the company’s disclosures.
- Consult Hippo’s annual and quarterly filings for financial performance, liquidity, debt, audit results, and any subsequent auditor-related developments.