Citizens & Northern Corp. Appoints New Auditor
Ticker: CZNC · Form: 8-K · Filed: May 14, 2024 · CIK: 810958
Sentiment: neutral
Topics: auditor-change, accounting
Related Tickers: CZNC
TL;DR
CZNC swapped accountants, bringing in PwC. No drama reported with the old one.
AI Summary
Citizens & Northern Corp. (CZNC) announced on May 10, 2024, that it has appointed PricewaterhouseCoopers LLP as its new independent registered public accounting firm, replacing L.L. Bean & Associates, LLP. This change is effective immediately. The company also disclosed that it has not had any disagreements with its former accountant.
Why It Matters
A change in auditor can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, potentially impacting investor confidence.
Risk Assessment
Risk Level: low — The filing is a routine change of auditor without any disclosed disagreements, indicating low immediate risk.
Key Players & Entities
- Citizens & Northern Corp. (company) — Registrant
- PricewaterhouseCoopers LLP (company) — New independent registered public accounting firm
- L.L. Bean & Associates, LLP (company) — Former independent registered public accounting firm
- May 10, 2024 (date) — Date of earliest event reported
FAQ
Who is Citizens & Northern Corp.'s new independent registered public accounting firm?
Citizens & Northern Corp. has appointed PricewaterhouseCoopers LLP as its new independent registered public accounting firm.
Who was Citizens & Northern Corp.'s previous independent registered public accounting firm?
The previous independent registered public accounting firm for Citizens & Northern Corp. was L.L. Bean & Associates, LLP.
When was the change in auditor effective?
The change in auditor was effective as of May 10, 2024.
Were there any disagreements between Citizens & Northern Corp. and its former accountant?
The filing states that there were no disagreements between Citizens & Northern Corp. and L.L. Bean & Associates, LLP.
What is the ticker symbol for Citizens & Northern Corp.?
The ticker symbol for Citizens & Northern Corp. is CZNC.
Filing Stats: 789 words · 3 min read · ~3 pages · Grade level 13.1 · Accepted 2024-05-14 14:38:39
Key Financial Figures
- $1.0 — ch registered Common Stock, par value $1.0 per share CZNC Nasdaq Capital Marke
Filing Documents
- cznc-20240510x8k.htm (8-K) — 43KB
- cznc-20240510xex16d1.htm (EX-16.1) — 4KB
- 0001558370-24-008114.txt ( ) — 163KB
- cznc-20240510.xsd (EX-101.SCH) — 3KB
- cznc-20240510_lab.xml (EX-101.LAB) — 15KB
- cznc-20240510_pre.xml (EX-101.PRE) — 9KB
- cznc-20240510x8k_htm.xml (XML) — 5KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant. On May 10, 2024, Citizens & Northern Corporation (the "Company"), after review and recommendation of the Company's Audit Committee, appointed Crowe LLP ("Crowe") as the Company's new independent registered public accounting firm for and with respect to the year ending December 31, 2024, and dismissed Baker Tilly US, LLP ("Baker Tilly"). The Company's formal engagement of Crowe remains subject to the completion of Crowe's standard client acceptance procedures and execution of an engagement letter. The reports of Baker Tilly on the Company's financial statements as of and for the years ended December 31, 2022 and 2023 did not contain an adverse opinion or a disclaimer of an opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles. During the Company's two most recent fiscal years and the subsequent interim period preceding Baker Tilly's dismissal, there were: (i) no disagreements with Baker Tilly on any manner of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Baker Tilly, would have caused it to make reference to the subject matter of the disagreements in its report on the consolidated financial statements of the Company; and (ii) no "reportable events" (as such term is defined in Item 304(a)(1)(v) of Regulation S-K). The Company has provided Baker Tilly with a copy of this Form 8-K prior to its filing with the U.S. Securities and Exchange Commission ("SEC") and requested Baker Tilly to furnish to the Company a letter addressed to the SEC stating whether it agrees with the statements made above. A copy of Baker Tilly's letter dated May 14, 2024, is attached as Exhibit 16.1 to this Form 8-K. During the Company's two most recently completed fiscal years and through the date of the Company's appointment of Crowe, the Company did not consult with Crowe regar
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 16.1 Letter dated May 14, 2024 from Baker Tilly US, LLP. 104 Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)
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 hereunto duly authorized. 6 CITIZENS & NORTHERN CORPORATION Dated: May 14, 2024 By: /s/ Mark A. Hughes Mark A. Hughes Treasurer and Chief Financial Officer