Skillful Craftsman Education Technology Limited — Form 6-K Summary
Business Context and Reporting Period
The company, a foreign private issuer headquartered in Wuxi, China, filed this Form 6-K on August 7, 2020. The report covers July 2020 and discloses a change in the company’s independent registered public accounting firm.
Material Event and Key Financial Information
Effective July 29, 2020, the audit committee dismissed BDO China Shu Lun Pan Certified Public Accountants LLP, which had audited the company’s consolidated financial statements for the fiscal years ended March 31, 2018 and 2019.
On the same date, the audit committee approved Thayer O’Neal Company, LLC as the new independent registered public accounting firm for the audit of the fiscal year ended March 31, 2020 and for issuance of the related audit report.
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, balance-sheet figures, or other operating metrics.
Changes, Management Commentary, and Risks
- BDO’s audit reports for fiscal 2018 and fiscal 2019 contained no adverse opinion, disclaimer, qualification, or modification relating to uncertainty, audit scope, or accounting principles.
- The company reported no disagreements with BDO regarding accounting principles, financial statement disclosure, or audit scope or procedures during the two most recent fiscal years or through July 29, 2020.
- The company reported no BDO reportable events under Item 16F(a)(1)(v) of Form 20-F.
- The company had not consulted with Thayer during the two most recent fiscal years or the subsequent interim period regarding accounting principles, audit opinions, disagreements, or reportable events.
- The filing provides no earnings guidance, business outlook, financial forecast, contingency disclosure, or explanation for the auditor change.
Investor Verification Points
- Verify the completion and results of Thayer’s audit of the fiscal year ended March 31, 2020.
- Review subsequent filings for any auditor-identified issues, modified opinions, internal-control matters, or financial restatements.
- Confirm the company’s fiscal 2020 financial results and key liquidity, debt, cash flow, and operating metrics, which are not included in this Form 6-K.
- Determine whether later filings provide a reason for replacing BDO, as this filing does not state one.