SEC Filing Summary: MasTec, Inc. 401(k) Retirement Plan
Business Context and Reporting Period
This Form 8-K is a current report filed on May 12, 2005, by the MasTec, Inc. 401(k) Retirement Plan (the "Plan"). The filing discloses a change in the Plan's independent registered public accounting firm. The Plan is a Florida entity with principal executive offices in Coral Gables, Florida.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity for the Plan. The document focuses exclusively on the administrative change of auditors.
Material Changes
- Resignation of Auditor: Grant Thornton LLP resigned as the Plan's independent registered public accounting firm on May 12, 2005, due to internal business decisions made by the firm.
- Engagement of New Auditor: BDO Seidman, LLP was engaged as the new independent registered public accounting firm on May 24, 2005.
- Audit Committee Approval: The decision to change accountants was approved by the Audit Committee on May 24, 2005.
Management Commentary, Risks, and Unusual Items
Management confirmed that the audit report by Grant Thornton LLP for the fiscal year ended December 31, 2003, did not contain any adverse opinion, disclaimer of opinion, or qualification regarding uncertainty, audit scope, or accounting principles. There were no disagreements between the Plan and Grant Thornton LLP during the most recent audit concerning accounting principles, financial statement disclosure, or auditing scope. Furthermore, no reportable events described under Item 304(a)(1)(v) of Regulation S-K occurred within the year ended December 31, 2003. The Plan did not consult with BDO Seidman, LLP regarding any matters set forth in Item 304(a)(2)(i) or (ii) during the years ended December 31, 2003, and 2002.
Investor Verification Checklist
- Verify the effective date of the resignation of Grant Thornton LLP (May 12, 2005) and the engagement of BDO Seidman, LLP (May 24, 2005).
- Confirm that the Audit Committee formally approved the change in accountants.
- Review the attached letter from Grant Thornton LLP (Exhibit 16.1) to ensure they agree with the statements regarding the absence of disagreements or reportable events.
- Note that this filing pertains to the 401(k) Retirement Plan, not the operating company MasTec, Inc. directly, though the Plan is a subsidiary entity.