Business Context and Reporting Period
Company: Bank First Corporation (Ticker: BFC)
Filing Type: Form 8-K (Current Report)
Date of Report: October 11, 2019
Reporting Period: The filing addresses events occurring on October 11, 2019, regarding a change in the Company's independent registered public accounting firm.
Key Financial Metrics
This filing is a current report regarding a corporate governance event (change of auditor) and does not contain financial performance data. The text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes Versus Prior Period
The primary material change disclosed is the replacement of the Company's independent registered public accounting firm:
- Outgoing Firm: Porter Keadle Moore, LLC (PKM) resigned effective October 11, 2019, following a practice combination with Wipfli LLP.
- Incoming Firm: Dixon Hughes Goodman, LLP (DHG) was engaged effective October 11, 2019, for the fiscal year ending December 31, 2019.
- Audit History: PKM's reports for the years ended December 31, 2018, and 2017 contained no adverse opinions, disclaimers, or qualifications. There were no disagreements with PKM regarding accounting principles or auditing scope during the relevant periods.
Guidance, Outlook, and Risks
Management Commentary: The Audit Committee of the Board of Directors approved the engagement of DHG on October 4, 2019. The Company confirmed that no consultations regarding accounting principles or reportable events occurred with DHG prior to their engagement.
Risks and Contingencies: No specific financial risks or contingencies are detailed in this filing beyond the standard disclosure of the auditor change. The filing confirms no "reportable events" occurred during the tenure of the previous auditor.
Key Facts for Investor Verification
- Verify the effective date of the auditor transition (October 11, 2019) and the appointment of Dixon Hughes Goodman, LLP.
- Confirm that the resignation of Porter Keadle Moore, LLC was due to a practice combination and not due to disagreements or reportable events.
- Review the letter from Porter Keadle Moore, LLC to the SEC (Exhibit 16.1) to ensure they concur with the Company's statements regarding the lack of disagreements.
- Note that this filing does not contain updated financial results; investors should refer to the most recent 10-Q or 10-K for financial metrics.