Business Context and Reporting Period
This Form 8-K Current Report was filed by the Aberdeen Total Dynamic Dividend Fund (formerly the Alpine Total Dynamic Dividend Fund) on May 9, 2018, covering events occurring as of May 4, 2018. The Fund is incorporated in Delaware and is managed by an investment adviser that changed effective May 4, 2018.
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 and accounting firm changes rather than financial performance data.
Material Changes
- Change in Certifying Accountant: Ernst & Young LLP (E&Y) resigned as the Fund's independent registered public accounting firm effective May 4, 2018.
- Reason for Resignation: The resignation was due to independence matters arising from the change in the Fund's investment adviser, which also became effective on May 4, 2018.
- Future Action: The Fund's Board of Trustees and Audit Committee are expected to select a new independent registered public accounting firm for the fiscal year ending October 31, 2018.
Guidance, Outlook, and Risks
Audit History and Disagreements:
- E&Y's reports for the fiscal years ended October 31, 2017, and October 31, 2016, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainties, audit scope, or accounting principles.
- There were no disagreements between the Fund and E&Y during the two most recent fiscal years or the interim period through May 4, 2018, regarding accounting principles, practices, financial statement disclosure, or auditing scope.
- No "reportable events" (as defined in Regulation S-K) occurred during the relevant periods.
Management Commentary: The Fund has provided E&Y with a copy of these disclosures and requested a confirmation letter, which was filed as Exhibit 16.1.
Investor Verification Checklist
- Verify the identity of the new independent registered public accounting firm selected by the Board of Trustees.
- Confirm the details of the new investment adviser and the specific independence issues that necessitated E&Y's resignation.
- Review the letter from Ernst & Young LLP (Exhibit 16.1) to ensure it aligns with the Fund's disclosures regarding the resignation.
- Monitor future filings for the appointment of the new auditor and any potential impact on the audit of the fiscal year ending October 31, 2018.