Business Context and Reporting Period
This Form 8-K filing by i3 Verticals, Inc. (Nasdaq: IIIV) reports a change in the company's independent registered public accounting firm. The report date is January 10, 2020, covering the earliest event date of January 7, 2020.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is strictly procedural regarding the appointment of an auditor.
Material Changes
- Dismissal of Previous Auditor: BDO USA, LLP was dismissed as the independent registered public accounting firm effective January 7, 2020.
- Appointment of New Auditor: Deloitte & Touche LLP was engaged as the new independent registered public accounting firm for the fiscal year ending September 30, 2020, effective immediately upon the dismissal of BDO.
- Audit History: BDO's reports for the years ended September 30, 2019, and 2018 were unqualified and contained no adverse opinions, disclaimers, or modifications regarding uncertainty, scope, or accounting principles.
- Disagreements: The company reported no disagreements with BDO on accounting principles, practices, or auditing scope during the relevant periods.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary on business operations. The primary risk disclosed is the transition of audit responsibilities. The company confirmed that no "reportable events" occurred with BDO and that no consultations regarding accounting principles or disagreements were held with Deloitte prior to their engagement.
Investor Verification Checklist
- Verify the reasons for the auditor change by reviewing the attached letter from BDO USA, LLP (Exhibit 16.1).
- Confirm the effective date of the new audit engagement with Deloitte & Touche LLP.
- Review the upcoming Form 10-Q for the three months ended December 31, 2019, to see the first financial statements audited or reviewed under the new firm.
- Monitor future filings for any restatements or qualifications related to the periods audited by the previous firm.