Business Context and Reporting Period
Company: AMÉRICA MÓVIL, S.A.B. DE C.V. (AMX)
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: April 9, 2025
Context: The filing announces the submission of Amendment No. 2 to the Company's Annual Report on Form 20-F/A for the fiscal year ended December 31, 2023. This amendment addresses updated findings from the Company's independent registered public accounting firm, Mancera S.C. (Mancera/EY), regarding internal controls.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document explicitly states that Amendment No. 2 does not modify, amend, restate, or update the Company's consolidated financial statements for the fiscal year ended December 31, 2023.
Material Changes Versus Prior Period
- Internal Control Over Financial Reporting (ICFR): Following a PCAOB inspection of Mancera/EY's 2023 audit, the firm identified additional internal control deficiencies related to the Company's Mexican business.
- Material Weaknesses: Mancera/EY concluded that these deficiencies resulted in material weaknesses in ICFR. Consequently, the firm withdrew its original opinion on the effectiveness of ICFR dated April 29, 2024.
- Financial Statements: There are no material changes to the reported financial figures; the amendment solely revises the assessment of internal controls.
Guidance, Outlook, and Risks
Management Commentary: The Company has provided additional information to Mancera/EY to address concerns over ICFR. The revised assessment is detailed in the concurrently filed Amendment No. 2 on Form 20-F/A.
Risks and Contingencies: The filing includes standard forward-looking statement disclaimers, noting that actual results may differ materially from expectations due to various risks and uncertainties. The primary risk highlighted is the existence of material weaknesses in internal controls over financial reporting as of December 31, 2023.
Investor Verification Checklist
- Review Amendment No. 2 on Form 20-F/A filed on April 9, 2025, for the full details of the revised ICFR assessment.
- Verify the specific nature of the internal control deficiencies identified in the Mexican business operations.
- Confirm that the consolidated financial statements for the fiscal year ended December 31, 2023, remain unchanged despite the withdrawal of the auditor's opinion on internal controls.
- Monitor future filings for updates on remediation plans for the identified material weaknesses.