Business Context and Reporting Period
This Form 8-K is a current report filed by AG Mortgage Investment Trust, Inc. (trading as MITT) on March 15, 2024. The filing discloses a change in the company's independent registered public accounting firm. The company is a Maryland corporation with its principal executive offices in New York. Following the acquisition of Angelo, Gordon & Co., L.P. by TPG Inc. in November 2023, the company's manager became an indirect subsidiary of TPG.
Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document is strictly procedural regarding the change of auditors.
Material Changes
- Accountant Change: The Audit Committee dismissed PricewaterhouseCoopers LLP (PwC) as the independent registered public accounting firm effective March 15, 2024.
- New Appointment: Deloitte & Touche LLP (Deloitte) was appointed as the new independent registered public accounting firm for the fiscal year ending December 31, 2024, effective immediately.
- Rationale: The change aligns with the company's integration into TPG Inc., as Deloitte serves as the independent auditor for TPG.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future performance. Regarding risks and contingencies, the company explicitly stated that:
- PwC's reports for the fiscal years ended December 31, 2023, and 2022 did not contain adverse opinions, disclaimers, or qualifications.
- There were no disagreements with PwC on accounting principles, practices, or auditing scope during the two most recent fiscal years or the interim period through March 15, 2024.
- There were no reportable events as defined by Regulation S-K during the same periods.
- No consultations were held with Deloitte regarding accounting principles or audit opinions prior to their appointment.
Key Facts for Investor Verification
- Verify the effective date of the auditor transition (March 15, 2024) and the scope of Deloitte's engagement for the 2024 fiscal year.
- Review the letter from PwC to the SEC (Exhibit 16.1) to confirm their agreement with the statements regarding the lack of disagreements or reportable events.
- Confirm the impact of the TPG acquisition on future audit fees and internal control reporting structures.
- Note that this filing does not provide updated financial results; investors should refer to the most recent 10-Q or 10-K for financial data.