Business Context and Reporting Period
This Form 6-K filing by Terra Nova Royalty Corporation (referred to in metadata as Scully Royalty Ltd.) covers the month of December 2010. The document serves as a formal Notice of Change of Auditor filed pursuant to National Instrument 51-102.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly procedural regarding auditor changes and contains no financial statements or performance data.
Material Changes
- Auditor Resignation: Deloitte & Touche LLP resigned as the Company's auditors effective November 24, 2010, by mutual agreement.
- New Appointment: Davidson & Company LLP (a member of Nexia International) was appointed as the Successor Auditors.
- Approval: The resignation and appointment were approved by the Company's audit committee and board of directors.
Outlook, Risks, and Contingencies
Management and the former auditors confirmed the following regarding the transition:
- There were no reservations in the Former Auditors' reports for the two most recently completed financial years.
- There have been no reportable events, disagreements, unresolved issues, or consultations in connection with the audits of the two most recently completed financial years or any subsequent period to date.
- The Successor Auditors reviewed the notice and agreed with the information contained therein.
Key Facts for Investor Verification
- Verify the effective date of the auditor change (November 24, 2010).
- Confirm the identity of the new auditor (Davidson & Company LLP).
- Note the absence of any reported disagreements or unresolved issues with the former auditor (Deloitte & Touche LLP).
- Check subsequent filings for the first financial statements audited by the new firm.