Business Context and Reporting Period
This Form 8-K is a current report filed on June 25, 2002, by the Comair Savings and Investment Plan (the "Plan"), with Comair Holdings, Inc. serving as the Plan Sponsor. The securities held pursuant to the plan are issued by Delta Air Lines, Inc. The report addresses a change in the Plan's certifying accountant.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity for the Plan or the issuer. The document focuses exclusively on administrative changes regarding the independent public accountant.
Material Changes
- Accountant Dismissal: On June 25, 2002, the Plan dismissed Arthur Andersen LLP as its independent public accountants.
- New Appointment: The Plan engaged Deloitte & Touche LLP to serve as the independent public accountants for the year ended December 31, 2001.
- Audit History: Arthur Andersen's reports for the past two years did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements with Arthur Andersen on accounting principles, financial statement disclosure, or auditing scope during the two most recent fiscal years or the nine-month period ended December 31, 2000.
- Consultations: The Plan did not consult Deloitte & Touche regarding accounting principles for specified transactions or potential audit opinions prior to their engagement.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, or management commentary regarding future financial performance. The primary risk disclosed is the change in auditor, which is standard procedure following the dismissal of a firm. The filing confirms that no reportable events under Item 304(a)(1)(v) of Regulation S-K occurred during the relevant periods.
Investor Verification Checklist
- Verify the effective date of the transition from Arthur Andersen LLP to Deloitte & Touche LLP.
- Confirm that the dismissal of Arthur Andersen was not related to any undisclosed accounting disputes or reportable events.
- Review the attached Exhibit 16 (Letter from Arthur Andersen LLP) to ensure their agreement with the statements made in the filing.
- Note that this filing pertains to the Comair Savings and Investment Plan, not the direct financial operations of Delta Air Lines, Inc., though Delta is the issuer of the securities held.