Business Context and Reporting Period
This Form 6-K filing by LightInTheBox Holding Co., Ltd. is dated November 30, 2018. The report discloses a material change in the Company's principal independent 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 auditors and does not contain financial statement data.
Material Changes
- Termination of Deloitte: On November 30, 2018, the Company terminated its relationship with Deloitte Touche Tohmatsu Certified Public Accountants LLP, effective immediately. This decision was approved by the Audit Committee and Board of Directors.
- Engagement of KPMG: On November 30, 2018, the Company engaged KPMG Huazhen LLP as its new principal independent accountant for the audit of financial statements for the year ended December 31, 2018.
- No Disagreements: The Company reported no disagreements with Deloitte regarding accounting principles, financial statement disclosure, or auditing scope for the fiscal years ended December 31, 2016 and 2017, or the interim period through November 30, 2018.
- Audit History: Deloitte's audit reports for the past two fiscal years contained no adverse opinions, disclaimers, or modifications regarding uncertainty, scope, or accounting principles.
Guidance, Outlook, and Risks
The filing does not contain management guidance, financial outlook, or specific risk factors beyond the disclosure of the auditor change. The Company confirmed that Deloitte did not advise that internal controls were insufficient or that it was unwilling to rely on management's representations.
Key Facts for Investor Verification
- Verify the effective date of the auditor transition (November 30, 2018) and the scope of KPMG's engagement.
- Confirm that no undisclosed disagreements existed between the Company and Deloitte prior to termination.
- Monitor future filings for the first audit report issued by KPMG for the fiscal year ending December 31, 2018.
- Note that this filing does not include financial performance data; refer to the most recent Form 20-F for financial metrics.