Business Context and Reporting Period
This Form 8-K Current Report is filed by Avnet, Inc. (AVT) on September 30, 2025. The report discloses a material change in the company's independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is strictly a disclosure of a corporate governance event regarding the audit firm.
Material Changes
- Appointment of New Auditor: The Audit Committee approved PricewaterhouseCoopers LLP as the new independent registered public accounting firm, effective September 30, 2025, subject to standard client acceptance procedures.
- Dismissal of Prior Auditor: KPMG LLP was dismissed as the independent registered public accounting firm effective September 30, 2025.
- Audit History: KPMG's audit reports for the fiscal years ended June 28, 2025, and June 29, 2024, did not contain adverse opinions, disclaimers, or qualifications.
- No Disagreements: The company reported no "disagreements" or "reportable events" with KPMG during the fiscal years ended June 28, 2025, and June 29, 2024, or the interim period through September 30, 2025.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future business performance. No specific risks or contingencies related to financial operations are disclosed in this document. The transition to the new auditor is noted as subject to the completion of standard client acceptance procedures.
Investor Verification Checklist
- Verify the completion of PricewaterhouseCoopers LLP's client acceptance procedures.
- Review the letter from KPMG LLP (Exhibit 16.1) to confirm their agreement with the company's disclosures regarding the dismissal.
- Monitor future filings for the first financial statements audited by PricewaterhouseCoopers LLP.
- Confirm that no undisclosed disagreements or reportable events exist between the company and KPMG prior to the dismissal date.