Business Context and Reporting Period
This Form 8-K filing by Nicolet Bankshares, Inc. (NCBS) reports a change in the company's independent registered public accounting firm. The report date is June 2, 2021, with the report signed on June 3, 2021.
Key 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
- Dismissal of Auditor: Wipfli LLP was dismissed as the independent registered public accounting firm effective immediately on June 2, 2021.
- Reason for Dismissal: The dismissal was necessitated by the hiring of H. Phillip Moore, Jr. as Chief Financial Officer. Mr. Moore previously served as the Southeast US Market Leader for Wipfli, creating a conflict of interest that would prevent Wipfli from maintaining independence.
- Engagement of New Auditor: BKD, LLP was selected to serve as the independent registered public accounting firm for the fiscal year ending December 31, 2021. This selection was approved by the Audit & Compliance Committee.
- Audit History: Wipfli's audit reports for the fiscal years ended December 31, 2020, and 2019 contained no adverse opinions, disclaimers, or qualifications. There were no disagreements or reportable events between the Company and Wipfli during the two most recent fiscal years or the interim period through June 2, 2021.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on business performance. The primary risk disclosed is the transition of audit responsibilities, which was managed to ensure regulatory compliance regarding auditor independence.
Investor Verification Checklist
- Verify the effective date of the new auditor engagement (BKD, LLP) for the 2021 fiscal year.
- Confirm that no disagreements or reportable events existed with the former auditor (Wipfli LLP) prior to dismissal.
- Review the letter from Wipfli LLP (Exhibit 16.1) to ensure they concur with the Company's statements regarding the dismissal.
- Monitor future filings for the first financial statements audited by BKD, LLP.