Business Context and Reporting Period
This Form 8-K is a current report filed by Nicolet Bankshares, Inc. on May 20, 2003. The filing discloses a material change in the company's independent certifying accountants.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the change in accounting firm and does not include financial statement data.
Material Changes
- Accountant Dismissal: On May 20, 2003, the Company dismissed Porter Keadle Moore, LLP as its independent accountants.
- New Appointment: The Company appointed McGladrey & Pullen, LLP as the new independent accountants.
- Future Engagement: Management anticipates that Porter Keadle Moore will continue to provide consulting and non-audit services to the Company.
Guidance, Outlook, and Risks
Management Commentary and Audit History:
- The Company confirmed no prior consultations with McGladrey & Pullen regarding accounting principles, specific transactions, disagreements, or potential audit opinions.
- Porter Keadle Moore's reports for fiscal years ended December 31, 2002, 2001, and 2000 contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- There were no disagreements with Porter Keadle Moore on accounting principles, financial statement disclosures, or auditing procedures during the audit periods or the subsequent interim period.
- The decision to change accountants was approved by the Company's Audit Committee.
Exhibits: A letter from Porter Keadle Moore dated May 22, 2003, confirming their agreement with the statements in this filing, is included as Exhibit 16.
Investor Verification Checklist
- Verify the reasons for the dismissal of Porter Keadle Moore, LLC, as they are not explicitly detailed beyond the standard disclosure.
- Review the letter from Porter Keadle Moore (Exhibit 16) to confirm their stance on the change.
- Monitor future filings to assess the impact of the new auditor on the company's financial reporting.
- Check subsequent 10-K or 10-Q filings for the first financial statements audited by McGladrey & Pullen, LLP.