CDW Corp Form 8-K Summary
Business Context and Reporting Period
This Current Report (Form 8-K) was filed by CDW Corporation on June 22, 2011. The filing addresses a change in the company's independent registered public accounting firm.
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 corporate governance regarding the external auditor.
Material Changes
- Dismissal of Previous Auditor: The Audit Committee approved the dismissal of PricewaterhouseCoopers LLP (PWC) as the independent registered public accounting firm effective June 22, 2011.
- Appointment of New Auditor: The Audit Committee approved the appointment of Ernst & Young LLP (E&Y) as the new independent registered public accounting firm, effective June 22, 2011, for the fiscal year ending December 31, 2011.
- Audit History: PWC's reports for fiscal years 2009 and 2010 contained no adverse opinions, disclaimers, or qualifications. There were no disagreements or reportable events between CDW and PWC during the two most recent fiscal years or through the date of dismissal.
- Consultation with New Auditor: CDW had not consulted E&Y regarding accounting principles, audit opinions, or matters related to disagreements with PWC prior to the appointment.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, management commentary on future outlook, or specific risk factors beyond the standard disclosure of the auditor change. The change was part of a competitive process undertaken by the Audit Committee in accordance with its policy to review the appointment of the independent auditor every five years.
Investor Verification Checklist
- Verify the attached letter from PricewaterhouseCoopers LLP (Exhibit 16.1) confirming their agreement with the company's disclosures regarding the dismissal.
- Confirm the effective date of the new engagement with Ernst & Young LLP for the fiscal year ending December 31, 2011.
- Review the company's next quarterly or annual report to assess the impact of the auditor transition on financial statement preparation and audit timelines.