Business Context and Reporting Period
This Form 8-K Current Report was filed by Banner Corporation on June 11, 2004. The report discloses a material change in the company's certifying accountants, effective June 9, 2004.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on auditor changes and does not contain financial statement data.
Material Changes
- Dismissal of Auditor: On June 9, 2004, the Audit Committee dismissed Deloitte & Touche LLP as the company's certifying accountants.
- Appointment of New Auditor: On June 4, 2004, the Audit Committee voted to engage Moss-Adams, LLP as the new certifying accountants for the fiscal year ending December 31, 2004. Moss-Adams accepted the engagement on June 9, 2004.
- Audit History: Deloitte & Touche's reports for the last two fiscal years contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
- Disagreements: The company reported no disagreements with Deloitte & Touche on accounting principles, practices, or audit scope during the last two fiscal years or subsequent interim periods.
- Reportable Matters: There were no reportable matters as defined in Regulation S-K Item 304(a)(1)(v) during the relevant period.
Guidance, Outlook, and Risks
The filing text does not provide guidance, outlook, or management commentary regarding future financial performance. The primary risk disclosed is the change in independent auditors, though the company asserts this was not due to accounting disagreements. Deloitte & Touche LLP confirmed in a letter (Exhibit 16) that they agree with the company's statements regarding the absence of disagreements and reportable matters.
Key Facts for Investor Verification
- Verify the reason for the auditor change, as the filing states no accounting disagreements occurred.
- Confirm the transition timeline between Deloitte & Touche LLP and Moss-Adams, LLP for the 2004 fiscal year audit.
- Review the letter from Deloitte & Touche LLP (Exhibit 16) to ensure no undisclosed issues exist regarding the termination.
- Monitor future filings for the first audit opinion issued by Moss-Adams, LLP.