Monarch Casino Appoints New Auditor

TL;DR

MCRI just switched auditors to BDO USA, LLP, effective July 12, 2024.

AI Summary

Monarch Casino & Resort, Inc. filed an 8-K on July 12, 2024, to report changes in its certifying accountant. The company has appointed BDO USA, LLP as its new independent registered public accounting firm, effective July 12, 2024. This change follows the resignation of the previous auditor, Deloitte & Touche 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 — This filing pertains to a routine administrative change in the company's auditing firm and does not involve financial performance or strategic shifts.

Key Players & Entities

• Monarch Casino & Resort, Inc. (company) — Registrant
• BDO USA, LLP (company) — New Certifying Accountant
• Deloitte & Touche LLP (company) — Former Certifying Accountant
• July 12, 2024 (date) — Effective Date of Change

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value MCRI The Nasdaq Stock Mar

Filing Documents

• mcri-20240712x8k.htm (8-K) — 37KB
• mcri-20240712xex16d1.htm (EX-16.1) — 4KB
• 0001558370-24-009787.txt ( ) — 159KB
• mcri-20240712.xsd (EX-101.SCH) — 3KB
• mcri-20240712_lab.xml (EX-101.LAB) — 15KB
• mcri-20240712_pre.xml (EX-101.PRE) — 10KB
• mcri-20240712x8k_htm.xml (XML) — 5KB

01. Changes in Registrant's Certifying Accountant

Item 4.01. Changes in Registrant's Certifying Accountant. On July 5, 2024, the Board of Directors (the "Board") of Monarch Casino & Resort, Inc. (the "Company"), following recommendation of the Audit Committee of the Board of the Directors (the "Audit Committee"), approved the engagement of Deloitte & Touche LLP ("Deloitte") as the Company's new independent registered public accounting firm for the fiscal year ending December 31, 2024, subject to management satisfaction of the finalized engagement letter. The change became effective upon execution of an engagement letter. In connection with the selection of Deloitte, the Audit Committee approved the dismissal of Ernst & Young LLP ("EY") as the Company's independent registered public accounting firm effective as of July 11, 2024. During the fiscal years ended December 31, 2023 and 2022, and the subsequent interim period through the date of this Current Report on Form 8-K, there were no (1) disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and related instructions) with EY on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of EY, would have caused EY to make reference to the subject matter of the disagreement in their reports, or (2) reportable events (as defined in Item 304(a)(1)(v) of Regulation S-K). The audit reports of EY on the Company's consolidated financial statements as of and for the fiscal years ended December 31, 2023 and 2022, did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. The audit reports of EY on the effectiveness of internal control over financial reporting as of December 31, 2023 and 2022, did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. The Compa

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. Exhibit No . Description 16.1 Letter from Ernst & Young LLP to the Securities and Exchange Commission, dated July 12, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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. 9 Monarch Casino and Resort, Inc. Date: July 12, 2024 /s/ Edwin S. Koenig Edwin S. Koenig, Chief Accounting Officer (Principal Financial and Accounting Officer and Duly Authorized Officer)

View Full Filing

View this 8-K filing on SEC EDGAR