Clearfield Appoints BDO USA as New Auditor
Ticker: CLFD · Form: 8-K · Filed: Nov 21, 2024 · CIK: 796505
| Field | Detail |
|---|---|
| Company | Clearfield, Inc. (CLFD) |
| Form Type | 8-K |
| Filed Date | Nov 21, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
TL;DR
Clearfield swapped auditors, moving from CliftonLarsonAllen to BDO USA, no drama reported.
AI Summary
Clearfield, Inc. announced on November 18, 2024, that it has appointed BDO USA, LLP as its new independent registered public accounting firm. This change follows the resignation of its former auditor, CliftonLarsonAllen LLP, effective November 15, 2024. The company stated that the decision to change auditors was not a result of any disagreements with CliftonLarsonAllen LLP.
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.
Risk Assessment
Risk Level: low — The filing is a routine change of auditors without any indication of financial irregularities or disputes.
Key Players & Entities
- Clearfield, Inc. (company) — Registrant
- BDO USA, LLP (company) — New independent registered public accounting firm
- CliftonLarsonAllen LLP (company) — Former independent registered public accounting firm
- November 18, 2024 (date) — Date of report and appointment announcement
- November 15, 2024 (date) — Effective date of former auditor's resignation
FAQ
Who is Clearfield, Inc.'s new independent registered public accounting firm?
Clearfield, Inc. has appointed BDO USA, LLP as its new independent registered public accounting firm.
Who was Clearfield, Inc.'s previous independent registered public accounting firm?
Clearfield, Inc.'s previous independent registered public accounting firm was CliftonLarsonAllen LLP.
When did CliftonLarsonAllen LLP's resignation become effective?
The resignation of CliftonLarsonAllen LLP was effective November 15, 2024.
What is the date of the report for this 8-K filing?
The date of the report for this 8-K filing is November 18, 2024.
Were there any disagreements between Clearfield, Inc. and CliftonLarsonAllen LLP?
The filing states that the decision to change auditors was not prompted by any disagreements between Clearfield, Inc. and CliftonLarsonAllen LLP.
Filing Stats: 868 words · 3 min read · ~3 pages · Grade level 13.8 · Accepted 2024-11-21 14:00:33
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value CLFD The Nasdaq Stock Marke
Filing Documents
- f8k_111824.htm (8-K) — 23KB
- exh_161.htm (EX-16.1) — 5KB
- logo.jpg (GRAPHIC) — 17KB
- 0001171843-24-006509.txt ( ) — 223KB
- clfd-20241118_lab.xml (EX-101.LAB) — 33KB
- clfd-20241118_pre.xml (EX-101.PRE) — 22KB
- clfd-20241118.xsd (EX-101.SCH) — 3KB
- f8k_111824_htm.xml (XML) — 4KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant. (a) Dismissal of Independent Registered Public Accounting Firm The Audit Committee (the "Audit Committee") of the Board of Directors of Clearfield, Inc. (the "Company") conducted a competitive evaluation process to determine the Company's independent registered public accounting firm for the fiscal year ending September 30, 2025. The Audit Committee invited several independent registered public accounting firms to participate in this process. Following this process, on November 18, 2024, the Audit Committee of the Company dismissed Baker Tilly, US, LLP ("Baker Tilly") as the Company's independent registered public accounting firm. Baker Tilly had served as the Company's independent registered public accounting firm since 2013. The audit reports of Baker Tilly on the Company's consolidated financial nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. During the fiscal years ended September 30, 2023 and 2024 and the subsequent interim periods through November 18, 2024, there were: (i) no "disagreements" within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions between the Company and Baker Tilly on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which disagreements, if not resolved to Baker Tilly's satisfaction, would have caused Baker Tilly to make reference thereto in their reports; and (ii) no "reportable events" within the meaning of Item 304(a)(1)(v) of Regulation S-K. The Company provided Baker Tilly with a copy of the foregoing disclosure, and requested that Baker Tilly furnish a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with such disclosure. A copy of Baker Tilly's letter, dat
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 16.1 Letter from Baker Tilly, US, LLP to the Securities and Exchange Commission dated November 21, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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 hereunto duly authorized. CLEARFIELD, INC. Date: November 21, 2024 By: /s/ Cheryl Beranek Cheryl Beranek Chief Executive Officer