Business Context and Reporting Period
This Form 8-K filing by Chicago Rivet & Machine Co. was submitted on June 5, 2014. The report discloses a material change in the company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on the administrative change of the audit firm.
Material Changes
- Dismissal of Auditor: The Audit Committee dismissed Grant Thornton LLP as the independent registered public accounting firm effective June 5, 2014.
- Appointment of New Auditor: Contemporaneously, the Committee engaged Crowe Horwath LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2014.
- Audit History: Grant Thornton's reports for fiscal years 2012 and 2013 contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- No Disagreements: The company reported no "disagreements" or "reportable events" with Grant Thornton during the fiscal years ended December 31, 2013 and 2012, or the interim period through March 31, 2014.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or management commentary on business performance. It confirms that no consultations were held with the new auditor, Crowe Horwath LLP, regarding accounting principles or reportable events prior to their engagement. The attached letter from Grant Thornton (Exhibit 16.1) indicates their agreement with the statements made in the report.
Investor Verification Checklist
- Verify the reasons for the auditor change by reviewing the attached letter from Grant Thornton LLP (Exhibit 16.1).
- Confirm the transition timeline and scope of work for the new auditor, Crowe Horwath LLP.
- Review subsequent filings (e.g., 10-K or 10-Q) to ensure no undisclosed disagreements or reportable events emerged post-filing.
- Monitor future audit reports for any qualifications or changes in opinion compared to the prior years.