Kearny Financial Corp. current report, 30 August 2017

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Business Context and Reporting Period

This Form 8-K filing by Kearny Financial Corp. (Maryland) reports a corporate governance event dated August 30, 2017. The filing addresses a change in the Company's independent registered public accounting firm for the fiscal year ending June 30, 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 the appointment and dismissal of audit firms rather than financial performance data.

Material Changes

  • Dismissal of Auditor: The Audit Committee dismissed BDO USA, LLP ("BDO") as the independent registered public accounting firm, effective immediately on August 30, 2017.
  • Appointment of New Auditor: The Audit Committee engaged Crowe Horwath LLP ("Crowe") as the new independent registered public accounting firm, effective August 30, 2017.
  • Audit History: BDO's audit reports for the fiscal years ended June 30, 2017, and 2016 contained no adverse opinions, disclaimers, or qualifications regarding financial statements or internal controls.
  • Disagreements: There were no disagreements between the Company and BDO on accounting principles, practices, or auditing scope during the two fiscal years ended June 30, 2017, or the interim period through August 30, 2017.

Guidance, Outlook, and Risks

The filing does not contain financial guidance, outlook, or management commentary on future performance. The primary risk disclosed relates to the transition of audit responsibilities. The Company confirmed that no "reportable events" occurred under Regulation S-K Item 304(a)(1)(v) during the relevant period. BDO has provided a letter to the SEC (Exhibit 16.1) stating whether it agrees with the Company's disclosures.

Investor Verification Checklist

  • Verify the content of BDO's letter to the SEC (Exhibit 16.1) to confirm no undisclosed disagreements exist.
  • Confirm the effective date of the transition to Crowe Horwath LLP for the upcoming fiscal year.
  • Review subsequent filings to ensure the new auditor's initial reports align with the Company's financial position.
  • Check for any future 8-K filings regarding the rationale for the auditor change if not fully detailed in the competitive selection process summary.