SEC Filing Summary: CBRE Holding, Inc. (Form 8-K)
Business Context and Reporting Period
This Form 8-K was filed by CBRE Holding, Inc. on April 23, 2002. The report addresses a significant change in the company's certifying accountant and the status of its interim financial statements for the first quarter of 2002.
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 termination of the auditor relationship and does not contain financial performance data.
Material Changes
- Termination of Auditor: Arthur Andersen LLP notified the Company that it may not be able to complete the review of the interim financial statements for the first quarter of 2002. Consequently, the client-auditor relationship has ceased.
- Board Approval Status: The termination of the relationship with Arthur Andersen has not been formally discussed or approved by the Company's Board of Directors or Audit Committee.
- Historical Audit Opinions: Arthur Andersen's previous reports on consolidated financial statements (through December 31, 2001) and predecessor entity statements did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements between the Company and Arthur Andersen during the past two completed fiscal years or the subsequent interim period regarding accounting principles, financial statement disclosure, or auditing scope.
Guidance, Outlook, and Risks
The filing does not provide management commentary, financial guidance, or outlook. The primary risk disclosed is the inability of the former auditor to complete the review of the Q1 2002 financial statements, which may impact the timely issuance of the Form 10-Q. Arthur Andersen has provided a letter agreeing with the Company's statements regarding the termination and lack of disagreements.
Investor Verification Checklist
- Verify the appointment of a new independent auditor to complete the Q1 2002 review.
- Confirm the timeline for the release of the Form 10-Q for the first quarter of 2002.
- Monitor for any formal Board of Directors or Audit Committee approval regarding the auditor change.
- Review the letter from Arthur Andersen LLP (Exhibit 16.1) for any additional context on the termination.