Business Context and Reporting Period
This Form 8-K filing by LMP Capital & Income Fund Inc. (the "Fund") was submitted on August 10, 2017, with the earliest event reported on August 10, 2017. The filing primarily addresses a change in the Fund's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current report regarding corporate governance and audit matters rather than a financial performance statement.
Material Changes
- Resignation of Auditor: KPMG LLP resigned as the independent registered public accounting firm on August 14, 2017, at the request of the Fund.
- Engagement of New Auditor: PricewaterhouseCoopers LLP ("PwC") was engaged as the new independent registered public accounting firm, effective August 14, 2017, for the fiscal year ending November 30, 2017.
- Audit History: KPMG's reports for the fiscal years ended November 30, 2016, and November 30, 2015, were unqualified and did not contain adverse opinions, disclaimers, or modifications regarding uncertainties, audit scope, or accounting principles.
Guidance, Outlook, and Risks
Management Commentary: The Fund explicitly stated that the selection of PwC does not reflect any disagreements with or dissatisfaction regarding the performance of KPMG. There were no disagreements between the Fund and KPMG on accounting principles, practices, or audit scope during the two most recent fiscal years or the subsequent interim period through August 14, 2017.
Reportable Events: The Fund confirmed there were no "reportable events" as defined in Item 304(a)(1)(v) of Regulation S-K during the relevant periods.
Consultations: Neither the Fund nor anyone on its behalf consulted with PwC regarding accounting principles, audit opinions, disagreements, or reportable events prior to the engagement.
Investor Verification Checklist
- Verify the effective date of the auditor transition (August 14, 2017) and the specific fiscal year PwC is covering (ending November 30, 2017).
- Review Exhibit 16.1, the letter from KPMG LLP dated August 16, 2017, to confirm their agreement with the Fund's disclosures regarding the resignation.
- Confirm that no undisclosed disagreements or reportable events exist by cross-referencing the Fund's statement with KPMG's confirmation letter.
- Note that this filing contains no financial performance data; refer to the most recent 10-K or 10-Q for financial metrics.