Business Context and Reporting Period
Company: The Boston Beer Company, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: February 27, 2015
Event Date: February 27, 2015 (Audit Committee vote); March 2, 2015 (Effective date of change)
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is a disclosure regarding a change in the company's independent registered public accounting firm.
Material Changes
- Dismissal of Auditor: The Audit Committee unanimously voted to dismiss Ernst & Young LLP as the independent registered public accounting firm.
- Engagement of New Auditor: Deloitte Touche Tohmatsu Limited was engaged as the independent registered public accounting firm for the 2015 fiscal year, effective March 2, 2015.
- Historical Audit Status: Reports for fiscal years ended December 27, 2014, and December 28, 2013, contained no adverse opinions, disclaimers, or qualifications.
- Disagreements: No disagreements existed with Ernst & Young regarding accounting principles, practices, or audit scope during the relevant periods.
- Reportable Events: No reportable events as defined in Item 304(a)(1)(v) of Regulation S-K occurred during the relevant periods.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on business performance. It confirms that the Company did not consult with Deloitte regarding accounting principles or audit opinions prior to engagement. The filing includes a letter from Ernst & Young (Exhibit 16.1) stating their agreement with the statements made in the report.
Investor Verification Checklist
- Verify the effective date of the new auditor engagement (March 2, 2015).
- Review the attached letter from Ernst & Young (Exhibit 16.1) to confirm no undisclosed disagreements.
- Monitor future filings for the first audit report issued by Deloitte for the 2015 fiscal year.
- Confirm that no "reportable events" were omitted from the disclosure regarding the prior auditor.