Business Context and Reporting Period
This Form 6-K filing by Mereo Biopharma Group Plc, dated September 20, 2023, reports a change in the registrant's certifying accountant. The filing covers the period through September 20, 2023.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the transition of the independent registered public accounting firm.
Material Changes
- Accountant Change: On September 20, 2023, the Board of Directors dismissed BDO LLP and appointed PricewaterhouseCoopers LLP (United Kingdom) as the new independent registered public accounting firm, effective immediately.
- Prior Audit Status: Reports by BDO LLP for the years ended December 31, 2022, and 2021, contained no adverse opinions, disclaimers, or qualifications.
- Disagreements: There were no disagreements with BDO LLP regarding accounting principles, practices, or auditing scope for the years ended December 31, 2022 and 2021, or through September 20, 2023.
- Reportable Events: No reportable events occurred except for a material weakness in internal controls over financial reporting disclosed on September 7, 2023. This weakness related to the operating effectiveness of a control over determining the presentation of a significant or non-routine transaction in the unaudited condensed consolidated statement of comprehensive loss for the period ended June 30, 2023.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or management commentary regarding business operations. The primary risk disclosed is the previously identified material weakness in internal controls over financial reporting. The Company confirmed it did not consult with PricewaterhouseCoopers LLP regarding accounting principles or audit opinions prior to their appointment.
Investor Verification Checklist
- Verify the details of the material weakness in internal controls disclosed on September 7, 2023, and the remediation plan.
- Confirm the effective date of PricewaterhouseCoopers LLP's engagement and the scope of their initial review.
- Review the attached letter from BDO LLP (Exhibit 16.1) to ensure no undisclosed disagreements exist.
- Monitor future filings for the impact of the accounting firm change on the audit of the 2023 financial statements.