Business Context and Reporting Period
This Form 8-K is a current report filed by the Waters Employee Investment Plan (the "Plan"), an employee benefit plan of Waters Corporation. The report date is March 30, 2006. The filing specifically addresses a change in the Plan's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. This report is administrative in nature and does not contain financial statement data for the Plan or the parent company.
Material Changes
- Dismissal of Auditor: On March 30, 2006, the Employee Benefits Administration Committee and the Audit Committee of Waters Corporation approved the dismissal of PricewaterhouseCoopers LLP (PwC) as the independent registered public accounting firm for the Plan.
- Appointment of New Auditor: On the same date, the committees approved the appointment of Carlin, Charron & Rosen, LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2005.
- Audit History: PwC's reports for the fiscal years ended December 31, 2004, and 2003 contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements between the Plan's management and PwC on accounting principles, practices, or auditing procedures during the fiscal years 2003-2004 or the period from January 1, 2005, through March 30, 2006.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, or management commentary regarding future financial performance. No reportable events as described in Item 304(a)(1)(v) of Regulation S-K occurred during the relevant periods. The filing includes a letter from PwC (Exhibit 16.1) addressed to the SEC confirming their agreement with the statements regarding the dismissal.
Investor Verification Checklist
- Verify the rationale for the change in auditors for the Waters Employee Investment Plan, as no disagreements were cited.
- Confirm the effective date of the new auditor, Carlin, Charron & Rosen, LLP, for the 2005 fiscal year.
- Note that this filing pertains to the Employee Investment Plan, not the consolidated financial results of Waters Corporation.