Business Context and Reporting Period
This Form 6-K filing by Danaos Corporation (Danaos) covers the month of May 2022. The report discloses a change in the Company's independent registered public accounting firm.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a corporate governance disclosure regarding an auditor change and does not contain financial performance data.
Material Changes
- Auditor Dismissal: PricewaterhouseCoopers S.A. (PwC) was dismissed by the Audit Committee on May 11, 2022.
- New Appointment: Deloitte Certified Public Accountants, S.A. (Deloitte) was appointed as the new independent registered public accounting firm effective May 17, 2022.
- Reason for Change: The decision was not the result of any disagreement on accounting principles, financial statement disclosure, or auditing scope/procedures.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary on market conditions. Regarding risks and contingencies, the Company confirmed that:
- PwC's reports for fiscal years 2020 and 2021 contained no adverse opinions, disclaimers, or qualifications.
- There were no disagreements with PwC during the 2020-2021 fiscal years or the subsequent period through May 11, 2022.
- No reportable events occurred as defined in Item 16F(a)(1)(v) of Form 20-F during the relevant periods.
- No consultations were held with Deloitte regarding accounting principles or disagreements prior to their engagement.
Key Facts for Investor Verification
- Verify the transition timeline between PwC and Deloitte to ensure no disruption in audit services.
- Confirm the content of the letter from PwC (Exhibit 99.1) to validate the Company's statement regarding the lack of disagreements.
- Review upcoming financial reports to ensure the new auditor's initial assessment aligns with prior financial statements.