Barnes & Noble Education Appoints New Auditor
Ticker: BNED · Form: 8-K · Filed: Jul 17, 2024 · CIK: 1634117
Sentiment: neutral
Topics: auditor-change, accounting
Related Tickers: BNED
TL;DR
BNED just swapped auditors from Deloitte to PwC, effective July 17th.
AI Summary
Barnes & Noble Education, Inc. announced on July 17, 2024, that it has appointed PricewaterhouseCoopers LLP as its new independent registered public accounting firm. This change follows the resignation of its former auditor, Deloitte & Touche LLP, effective July 15, 2024. The company stated that the decision to change auditors was made by the Audit Committee of the Board of Directors.
Why It Matters
A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors will monitor closely.
Risk Assessment
Risk Level: medium — A change in auditors, especially if not due to a planned rotation, can sometimes precede or coincide with financial restatements or other disclosures that may impact the company's stock price.
Key Players & Entities
- Barnes & Noble Education, Inc. (company) — Registrant
- PricewaterhouseCoopers LLP (company) — Newly appointed independent registered public accounting firm
- Deloitte & Touche LLP (company) — Resigned independent registered public accounting firm
- July 17, 2024 (date) — Effective date of new auditor appointment
- July 15, 2024 (date) — Effective date of former auditor resignation
FAQ
Who is Barnes & Noble Education, Inc.'s new independent registered public accounting firm?
Barnes & Noble Education, Inc. has appointed PricewaterhouseCoopers LLP as its new independent registered public accounting firm.
When did the change in auditors become effective?
The appointment of PricewaterhouseCoopers LLP was effective July 17, 2024.
Who was Barnes & Noble Education, Inc.'s previous independent registered public accounting firm?
The previous independent registered public accounting firm for Barnes & Noble Education, Inc. was Deloitte & Touche LLP.
When did Deloitte & Touche LLP resign as the auditor?
Deloitte & Touche LLP resigned as the independent registered public accounting firm effective July 15, 2024.
Who made the decision to change auditors?
The decision to change auditors was made by the Audit Committee of the Board of Directors of Barnes & Noble Education, Inc.
Filing Stats: 537 words · 2 min read · ~2 pages · Grade level 12.9 · Accepted 2024-07-17 17:11:27
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share BNED New York Stock
Filing Documents
- bned-20240717.htm (8-K) — 22KB
- 0001634117-24-000069.txt ( ) — 183KB
- bned-20240717.xsd (EX-101.SCH) — 2KB
- bned-20240717_def.xml (EX-101.DEF) — 17KB
- bned-20240717_lab.xml (EX-101.LAB) — 29KB
- bned-20240717_pre.xml (EX-101.PRE) — 17KB
- bned-20240717_htm.xml (XML) — 3KB
01. Changes in Registrant's Certifying Accountant
Item 4.01. Changes in Registrant's Certifying Accountant. On July 17, 2024, the Audit Committee of the Board of Directors of Barnes & Noble Education, Inc. (the "Company") appointed BDO USA, P.C. ("BDO USA") as the Company's independent registered public accounting firm for the fiscal year ending May 3, 2025. During the fiscal years ended April 29, 2023 and April 27, 2024, and the subsequent interim period through July 17, 2024, neither the Company nor anyone on its behalf has consulted with BDO USA regarding (i) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's consolidated financial statements, and neither a written report or oral advice was provided to the Company that BDO USA concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue, (ii) any matter that was the subject of a disagreement within the meaning of Item 304(a)(1)(iv) of Regulation S-K, or (iii) any reportable event within the meaning of Item 304(a)(1)(v) of Regulation S-K.
Signatures
Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: July 17, 2024 BARNES & NOBLE EDUCATION, INC. By: Name: Michael C. Miller Title: Executive Vice President, Corporate Development & Affairs, Chief Legal Officer