Business Context and Reporting Period
This Form 6-K filing by Companhia de Saneamento Básico do Estado de São Paulo (SABESP) was submitted on September 10, 2012. The report serves as a market announcement regarding a change in the company's external auditors. SABESP is a listed company with securities traded on the stock exchanges of São Paulo and New York.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document is a corporate governance announcement rather than a financial results report.
Material Changes
- Change of External Auditors: SABESP has contracted Deloitte Touche Tohmatsu Auditores Independentes ("Deloitte") to replace PricewaterhouseCoopers Auditores Independentes ("PWC").
- Reason for Change: The appointment occurred due to the expiration of the contract with PWC, which was limited to a 60-month term in compliance with applicable legislation (clause 57 of Law 8666/93).
- Effective Date: Deloitte's activity begins with the review of the Quarterly Information (ITRs) for the third quarter of 2012.
- Consent: SABESP has obtained the consent of PWC regarding the justification for the change.
Guidance, Outlook, and Risks
The filing includes a standard forward-looking statements disclaimer. It notes that statements regarding future economic circumstances, industry conditions, company performance, dividend declarations, and capital expenditure plans are based on management's current views and estimates. These statements are subject to risks and uncertainties, and there is no guarantee that expected events or trends will actually occur.
Investor Verification Checklist
- Verify the official appointment of Deloitte as the new external auditor for the 2012 third quarter.
- Confirm the transition timeline and the scope of the audit review starting with the Q3 2012 ITRs.
- Review the upcoming Q3 2012 financial results to assess any impact of the auditor transition on reporting.
- Monitor future filings for the first full audit report issued by Deloitte.