RXO, Inc. Form 8-K Summary
Business context and reporting period
RXO, Inc. filed this Form 8-K on April 2, 2024, under Item 4.01 to report a change in its independent registered public accounting firm for fiscal year 2024 and related interim periods. The filing does not report quarterly or annual operating results.
Financial and operating metrics
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other operating metrics.
Material changes versus the prior comparable period
- On March 29, 2024, RXO’s Audit Committee dismissed KPMG LLP, which had served as the company’s independent registered public accounting firm since 2022.
- On the same date, the Audit Committee appointed Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2024, and related interim periods.
- KPMG’s audit reports on the company’s consolidated financial statements for the fiscal years ended December 31, 2023 and 2022 contained neither an adverse opinion nor a disclaimer of opinion and were not qualified or modified.
Guidance, outlook, risks, contingencies, and unusual items
- RXO reported no disagreements with KPMG regarding accounting principles or practices, financial statement disclosure, or audit scope or procedures during the fiscal years ended December 31, 2023 and 2022 or the subsequent interim period through March 29, 2024.
- RXO reported no events requiring disclosure under the applicable SEC “reportable events” provisions.
- Before its appointment, Deloitte had not been consulted by RXO regarding accounting principles for a specific transaction, potential audit opinions, disagreements, reportable events, or other accounting, auditing, or financial reporting matters that influenced the company’s decision.
- KPMG’s letter dated April 2, 2024, addressing the company’s disclosures, was filed as Exhibit 16.1.
Facts investors should verify
- Confirm Deloitte’s appointment and the effective transition for the 2024 audit and interim reviews.
- Review Exhibit 16.1 for KPMG’s response to RXO’s disclosures.
- Review subsequent filings for any additional information regarding the auditor transition or changes in financial reporting and internal controls.
- Note that this filing contains no updated financial guidance or financial performance data.