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4620 Non-Reliance on previously issued audit report or completed interim review [Item 4.02(b) Form 8-K]
us SEC - Financial Reporting Manual
4620.1 An Item 4.02(b) Form 8-K should be filed if the registrant's current or former independent accountant advises or notifies it must disclose or take action to prevent future reliance on a previously issued audit report or completed interim review related to previously issued financial statements.
4620.2 The filing of an Item 4.02(b) Form 8-K may, but does not necessarily, result in non-reliance on previously issued financial statements, and require the filing of an Item 4.02(a) Form 8-K. It would depend upon the underlying reasons that the accountant advised a registrant that its audit report or completed interim review should no longer be relied on.
4620.3 [Reserved]
4620.4 The Form 8-K should disclose:
- The date on which the accountant advised or notified the registrant;
- The specific financial statements that should no longer be relied upon;
- A brief description of the information provided by the accountant; and
- A statement of whether the audit committee, or the board of directors in the absence of an audit committee, or authorized officer or officers, discussed the matters disclosed in the filing under Item 4.02(b) of Form 8-K with the accountant.
4620.5 The Form 8-K should include any written notice received from the accountant as Exhibit 7.
4620.6 A registrant should provide the accountant with a copy of the disclosures the registrant is making in response to the Item 4.02(b) Form 8-K no later than the day that the disclosures are filed with the SEC.
4620.7 A registrant should request the accountant furnish the registrant as promptly as possible a letter addressed to the SEC stating whether the independent accountant agrees with the statements made by the registrant in response to the Item 4.02(b) Form 8-K and, if not, stating with what it does not agree. If the letter is not available on the date the 8-K is filed, a company should amend its previously filed Form 8-K to file the independent accountant's letter as Exhibit 7 no later than two business days after the registrant's receipt of the letter.
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