Business Context and Reporting Period
Company: Coffee Holding Co., Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 23, 2001
Event: Change in Registrant's Certifying Accountant.
Key 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 the change of independent auditors.
Material Changes Versus Prior Period
- Resignation of Previous Accountant: On October 23, 2001, J.H. Cohn, LLP resigned as the Company's independent accountants.
- Engagement of New Accountant: On October 25, 2001, the Board of Directors approved the engagement of Lazar Levine & Felix, LLP as the principal accountant.
- Audit History: For fiscal years ended October 31, 2000 and 1999, J.H. Cohn, LLP issued reports that did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
Guidance, Outlook, Risks, and Contingencies
Disagreements and Reportable Events: The Company reported no disagreements with J.H. Cohn, LLP during the two most recent fiscal years or the interim period preceding the resignation regarding accounting principles, financial statement disclosure, or auditing scope.
Internal Controls and Reliability: J.H. Cohn, LLP did not advise the Company of any deficiencies in internal controls, nor did they encounter information that would prevent reliance on management's representations or impact the fairness of financial statements.
Consultation with New Accountant: Neither the Company nor its representatives consulted with Lazar Levine & Felix, LLP prior to engagement regarding accounting principles or matters that would require disclosure under Item 304(a)(2) of Regulation S-K.
Important Facts for Investor Verification
- Verify the specific reasons for J.H. Cohn, LLP's resignation by reviewing the attached Letter of J.H. Cohn, LLP (Exhibit 16).
- Confirm the transition timeline between the resignation of the old auditor and the engagement of the new auditor (October 23 to October 25, 2001).
- Monitor future filings for the first audit report issued by Lazar Levine & Felix, LLP to assess any changes in audit opinion or scope.