Bridgewater Bancshares Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Bridgewater Bancshares Inc. on March 7, 2023. The report discloses a material corporate governance event regarding the dismissal of the company's independent registered public accounting firm.
Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the change in the company's certifying accountant.
Material Changes
- Dismissal of Auditor: On December 20, 2022, the Audit Committee approved the dismissal of CliftonLarsonAllen LLP (CLA) as the independent registered public accounting firm.
- Completion of Services: CLA completed its audit services for the fiscal year ending December 31, 2022, on March 6, 2023, at which point its retention ended.
- Audit Opinions: The reports issued by CLA for the years ended December 31, 2022, and 2021, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: The company reported no "disagreements" or "reportable events" with CLA during the audit periods or leading up to the dismissal.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on financial outlook, or specific risk factors beyond the standard disclosure of the auditor change. The company confirmed that CLA was provided with a copy of this disclosure and requested a letter to the SEC regarding their agreement with the statements made.
Key Facts for Investor Verification
- Verify the appointment of a new independent registered public accounting firm to replace CliftonLarsonAllen LLP.
- Review the attached Exhibit 16.1 (Letter to SEC from CliftonLarsonAllen LLP) to confirm the auditor's stance on the dismissal.
- Monitor subsequent filings (e.g., 10-K or 10-Q) for the impact of the auditor change on the audit timeline and financial reporting.