North European Oil Royalty Trust Appoints New Auditor
Ticker: NRT · Form: 8-K · Filed: Jun 5, 2024 · CIK: 72633
Sentiment: neutral
Topics: auditor-change, accounting
TL;DR
NEO just switched auditors to BDO USA, LLP from Wolf & Company, P.C. effective June 1st.
AI Summary
North European Oil Royalty Trust has appointed BDO USA, LLP as its new independent registered public accounting firm, effective June 1, 2024. This change follows the resignation of their previous auditor, Wolf & Company, P.C. The Trust's principal executive offices are located at 5 N. Lincoln Street, Keene, NH 03431.
Why It Matters
A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors should monitor.
Risk Assessment
Risk Level: low — This filing reports a change in the company's auditor, which is a routine administrative event and does not inherently indicate financial distress or significant operational changes.
Key Players & Entities
- BDO USA, LLP (company) — New independent registered public accounting firm
- Wolf & Company, P.C. (company) — Resigned independent registered public accounting firm
- North European Oil Royalty Trust (company) — Registrant
- June 1, 2024 (date) — Effective date of auditor change
FAQ
Who is the new independent registered public accounting firm for North European Oil Royalty Trust?
The new independent registered public accounting firm is BDO USA, LLP.
When did the change in auditors become effective?
The change in auditors became effective on June 1, 2024.
Who was the previous independent registered public accounting firm?
The previous independent registered public accounting firm was Wolf & Company, P.C.
What is the address of North European Oil Royalty Trust's principal executive office?
The address of the principal executive office is 5 N. Lincoln Street, Keene, NH 03431.
Under which section of the Securities Exchange Act of 1934 is this Form 8-K filed?
This Form 8-K is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 803 words · 3 min read · ~3 pages · Grade level 13.8 · Accepted 2024-06-05 16:24:13
Filing Documents
- ek060524.htm (8-K) — 8KB
- x16.htm (EX-16) — 1KB
- 0000072633-24-000012.txt ( ) — 10KB
01. Changes in
Item 4.01. Changes in Registrant's Certifying Accountant Based on information provided by Mazars USA LLP ("Mazars"), the independent registered public accounting firm of North European Oil Royalty Trust (the "Trust"), substantially all the partners and employees of Mazars joined FORVIS, LLP. Upon the transaction effective date of June 1, 2024, FORVIS, LLP changed its name to Forvis Mazars, LLP and Mazars resigned as the Trust's independent registered public accounting firm. The Trustees, acting on the recommendation of the Audit Committee of the Trust, have duly appointed Forvis Mazars, LLP to serve as the independent registered public accounting firm of the Trust effective June 1, 2024 for the remainder of the Trust's fiscal year ending October 31, 2024. Mazars' reports on the Trust's consolidated financial statements for the fiscal years ended October 31, 2022 and 2023 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles. During the two most recent fiscal years ended October 31, 2022 and 2023, and the subsequent interim period through May 31, 2024, there were (i) no disagreements with Mazars 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 Mazars, would have caused Mazars to make reference to the on the Trust's consolidated financial statements for such years, and (ii) no "reportable events," as defined in Item 304(a)(1)(v) of Regulation S-K. During the two most recent fiscal years ended October 31, 2022 and 2023, and the subsequent interim period through May 31, 2024, the Trust (or someone on its behalf) did not consult Forvis Mazars, LLP regarding (i) either (x) the application of accounting principles to a specified transaction, either complete or proposed, or (y) th
financial statements, or (ii) any matter that was either the
financial statements, or (ii) any matter that was either the Regulation S-K and the related instructions to that Item) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K). The Trust provided Mazars with a copy of the above disclosures and requested that Mazars furnish the Trust with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the 2024 is attached as Exhibit 16.1 of this Current Report on Form 8-K.
01. Financial
Item 9.01. Financial (d) Exhibits The following exhibit is furnished herewith: Exhibit 16.1 .   Letter from Mazars USA LLP dated June 5, 2024.
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. NORTH EUROPEAN OIL ROYALTY TRUST (Registrant) By /s/ John R. Van Kirk John R. Van Kirk Managing Director Dated: June 5, 2024