SEC Filing Summary: Rent-A-Center, Inc. (Form 8-K)
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Rent-A-Center, Inc. on February 25, 2013. The filing addresses a change in the Company's independent registered public accounting firm. The report covers the decision made on December 13, 2012, by the Audit Committee to dismiss Grant Thornton LLP and engage KPMG LLP.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. This document is a disclosure of a corporate governance event rather than a financial performance report.
Material Changes
- Accountant Dismissal: Grant Thornton LLP was dismissed as the independent registered public accounting firm effective February 25, 2013, coinciding with the filing of the Annual Report on Form 10-K for the year ended December 31, 2012.
- New Appointment: KPMG LLP was engaged as the independent registered public accounting firm commencing with the audit for the year ending December 31, 2013.
- Audit History: Grant Thornton's audit reports for the years ended December 31, 2011, and 2012, were unqualified and did not contain adverse opinions, disclaimers, or modifications regarding uncertainty, scope, or accounting principles.
Outlook, Risks, and Contingencies
Disagreements and Reportable Events: The Company reported no disagreements with Grant Thornton regarding accounting principles, practices, financial statement disclosures, or auditing scope/procedures during 2011, 2012, or the period through February 25, 2013. No reportable events occurred during these periods.
Consultations with New Auditor: The Company confirmed that neither it nor anyone on its behalf consulted with KPMG regarding accounting principles, proposed transactions, or potential audit opinions prior to the engagement. No written reports or oral advice were provided by KPMG that were considered important factors in reaching decisions on accounting or auditing issues.
Investor Verification Checklist
- Verify the content of the letter from Grant Thornton LLP (Exhibit 16.1) to confirm their agreement with the statements made in this filing.
- Review the Annual Report on Form 10-K for the year ended December 31, 2012, for the financial data associated with the period audited by Grant Thornton.
- Monitor future filings for the initial audit report issued by KPMG LLP for the fiscal year ending December 31, 2013.