First Capital Inc. Changes Certifying Accountant on Jan 16, 2024
Ticker: FCAP · Form: 8-K · Filed: Jan 22, 2024 · CIK: 1070296
| Field | Detail |
|---|---|
| Company | First Capital INC (FCAP) |
| Form Type | 8-K |
| Filed Date | Jan 22, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: auditor-change, corporate-governance, 8-K
TL;DR
**First Capital Inc. switched auditors, a routine move with no red flags.**
AI Summary
First Capital, Inc. announced on January 16, 2024, that it has changed its independent registered public accounting firm. This change is a routine disclosure and does not indicate any financial distress or issues with past audits. For investors, this matters because the reliability of financial statements depends on the auditor's independence and expertise, and a change can sometimes signal underlying issues, though in this case, the filing provides no such indication.
Why It Matters
This filing is a standard disclosure about a change in the company's auditor, which is important for ensuring the integrity and reliability of its financial reporting.
Risk Assessment
Risk Level: low — The filing simply reports a change in the certifying accountant, a common corporate event, without indicating any disputes or disagreements that would suggest higher risk.
Analyst Insight
A smart investor would note this routine change and look for subsequent filings (like the next 10-K) to see who the new auditor is and if there are any new disclosures related to the audit process, though this filing itself doesn't warrant immediate action.
Key Players & Entities
- First Capital, Inc. (company) — the registrant filing the 8-K
- January 16, 2024 (date) — date of the earliest event reported
- SEC (company) — Securities and Exchange Commission
FAQ
What is the primary event reported in this 8-K filing?
The primary event reported in this 8-K filing is a change in First Capital, Inc.'s independent registered public accounting firm, which occurred on January 16, 2024.
What is the full name of the company making this filing?
The full name of the company making this filing is First Capital, Inc.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported in this filing is January 16, 2024.
Under which item of Form 8-K is the change in accountant reported?
The change in the registrant's certifying accountant is reported under 'ITEM INFORMATION: Changes in Registrant's Certifying Accountant'.
What is the company's business address as listed in the filing?
The company's business address is 220 Federal Drive N.W., Corydon, Indiana 47112.
Filing Stats: 917 words · 4 min read · ~3 pages · Grade level 12.7 · Accepted 2024-01-22 16:06:24
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share FCAP The NASDAQ Stock Mar
Filing Documents
- tm243800d1_8k.htm (8-K) — 30KB
- tm243800d1_ex16-1.htm (EX-16.1) — 3KB
- tm243800d1_ex16-1img001.jpg (GRAPHIC) — 8KB
- 0001104659-24-005570.txt ( ) — 213KB
- fcap-20240116.xsd (EX-101.SCH) — 3KB
- fcap-20240116_lab.xml (EX-101.LAB) — 33KB
- fcap-20240116_pre.xml (EX-101.PRE) — 22KB
- tm243800d1_8k_htm.xml (XML) — 3KB
01 Change in Registrant's Certifying
Item 4.01 Change in Registrant's Certifying Accountant (a) Dismissal of Independent Registered Public Accounting Firm On January 16, 2024 (the "Notice Date"), First Capital Inc., (the "Company") notified Monroe Shine & Co., Inc. ("Monroe Shine") they had been dismissed as the Company's independent registered public accounting firm effective upon the completion of its audit of the Company's consolidated financial statements for the fiscal year ended December 31, 2023. The decision to dismiss Monroe Shine was approved by the Audit Committee of the Company's Board of Directors. The dismissal of Monroe Shine was not related to any disagreements with Monroe Shine on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. Monroe Shine served as the Company's independent registered public accounting firm for the fiscal years ended December 31, 2022 and 2021. Monroe Shine's reports on the Company's consolidated financial statements for the fiscal years ended December 31, 2022 and 2021 did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles. During the fiscal years ended December 31, 2022 and 2021, and through the Notice Date, there were no disagreements between the Company and Monroe Shine on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which, if not resolved to the satisfaction of Monroe Shine, would have caused Monroe Shine to make reference to the matter in their reports. None of the "reportable events" described in Item 304(a)(1)(v) of Regulation S-K of the Securities and Exchange Commission's ("SEC") rules and regulations have occurred during the fiscal years ended December 31, 2022 or 2021 or through the Notice Date. Before filing this Current Report on Form 8-K with the SEC, the Company requested Monroe Shine to furnish the Company with a le
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 16.1 Letter from Monroe Shine & Co., Inc. 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. FIRST CAPITAL, INC. Date: January 22, 2024 By: /s/ Joshua P. Stevens Joshua P. Stevens Chief Financial Officer