H&R Block, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by H&R Block, Inc. on May 12, 2003. The report specifically addresses the H&R Block Retirement Savings Plan (the "Plan") and discloses a change in the Plan's independent certifying accountants.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to governance and audit matters regarding the Retirement Savings Plan and does not contain consolidated financial results for H&R Block, Inc.
Material Changes
- Accountant Resignation: PricewaterhouseCoopers LLP (PwC) declined to stand for re-election as the independent accountants for the Plan following the audit of the fiscal year ended December 31, 2002.
- Audit History: PwC's reports for the past two fiscal years contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements with PwC on accounting principles, practices, disclosures, or auditing scope/procedures during the two most recent fiscal years or through May 12, 2003.
- Reportable Events: No reportable events (as defined in Regulation S-K Item 304(a)(1)(v)) occurred during the relevant period.
Outlook and Management Commentary
The H&R Block, Inc. Audit Committee will select the Plan's new independent public accountants for the fiscal year ending December 31, 2003, in accordance with the Audit Committee Charter. A letter from PwC to the SEC, dated May 16, 2003, confirming their agreement with the statements in this filing, is attached as Exhibit 16.1.
Key Facts for Investor Verification
- Verify the identity of the new independent accountant selected for the H&R Block Retirement Savings Plan.
- Confirm that the resignation of PwC was specific to the Retirement Savings Plan and did not affect the independent auditor for H&R Block, Inc.'s consolidated financial statements.
- Review the attached Exhibit 16.1 (Letter from PwC) for any additional context regarding the decision not to stand for re-election.