Optical Cable Corp Changes Auditors
Ticker: OCC · Form: 8-K · Filed: Apr 30, 2024 · CIK: 1000230
Sentiment: neutral
Topics: auditor-change, accounting
TL;DR
OCC swapped auditors, ditching BDO USA for PwC.
AI Summary
Optical Cable Corporation filed an 8-K on April 30, 2024, reporting a change in its certifying accountant. The company's independent registered public accounting firm, BDO USA, LLP, was dismissed effective April 25, 2024. The company has engaged PricewaterhouseCoopers LLP as its new independent registered public accounting firm.
Why It Matters
A change in auditors can sometimes signal underlying issues with financial reporting or a desire for a fresh perspective on the company's financial health.
Risk Assessment
Risk Level: medium — A change in auditors, especially without explicit reasons provided, can sometimes indicate underlying financial or accounting concerns.
Key Players & Entities
- OPTICAL CABLE CORP (company) — Registrant
- BDO USA, LLP (company) — Dismissed independent registered public accounting firm
- PricewaterhouseCoopers LLP (company) — Newly engaged independent registered public accounting firm
- April 25, 2024 (date) — Date of auditor dismissal
- April 30, 2024 (date) — Filing date of the 8-K
FAQ
When was the company's previous independent auditor dismissed?
The company's independent registered public accounting firm, BDO USA, LLP, was dismissed effective April 25, 2024.
Who is the new independent registered public accounting firm for Optical Cable Corporation?
Optical Cable Corporation has engaged PricewaterhouseCoopers LLP as its new independent registered public accounting firm.
What is the filing date of this 8-K report?
This Form 8-K was filed on April 30, 2024.
What type of event is primarily reported in this 8-K filing?
This 8-K filing primarily reports a change in the registrant's certifying accountant.
In which state is Optical Cable Corporation incorporated?
Optical Cable Corporation is incorporated in Virginia (VA).
Filing Stats: 965 words · 4 min read · ~3 pages · Grade level 13.4 · Accepted 2024-04-30 16:30:48
Filing Documents
- occ20240430_8k.htm (8-K) — 33KB
- ex_664645.htm (EX-16.1) — 4KB
- 0001437749-24-013993.txt ( ) — 169KB
- occ-20240425.xsd (EX-101.SCH) — 3KB
- occ-20240425_def.xml (EX-101.DEF) — 11KB
- occ-20240425_lab.xml (EX-101.LAB) — 15KB
- occ-20240425_pre.xml (EX-101.PRE) — 11KB
- occ20240430_8k_htm.xml (XML) — 3KB
01 Change in Registrant's Certifying Accountant
Item 4.01 Change in Registrant's Certifying Accountant 3
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits 3
Signatures
Signatures 4 Exhibits 2 Table of Contents
01 Changes in Registrant ' s Certifying Accountant
Item 4.01 Changes in Registrant ' s Certifying Accountant As previously disclosed by Optical Cable Corporation (the "Company" or "OCC"), Brown, Edwards & Company, L.L.P. ("Brown Edwards") informed the Company that Brown Edwards was closing its public company audit practice and would no longer be performing audits for public companies. As a result, Brown Edwards indicated to the Company that it would not be possible to engage Brown Edwards as an independent registered public accounting firm for the Company's 2024 fiscal year, ending October 31, 2024. Brown Edwards did complete the audit of the Company's consolidated financial statements for the fiscal year ended October 31, 2023. The reports of Brown Edwards on OCC's consolidated financial statements for the fiscal years ended October 31, 2023 and 2022 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 fiscal years ended October 31, 2023 and 2022, and through April 25, 2024, there have been no "disagreements"(as defined in Item 301(a)(1)(iv) of Regulation S-K and the related instructions) with Brown Edwards 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 Brown Edwards would have caused Brown Edwards to make reference thereto in its reports on the consolidated financial statements for such years and interim period. During the fiscal years ended October 31, 2023 and 2022, and through April 25, 2024, there have been no "reportable events" (as defined in Item 304(a)(1)(v) of Regulation S-K). OCC provided Brown Edwards with a copy of the disclosure it is making herein in response to Item 304(a) of Regulation S-K, and requested that Brown Edwards furnish the Company with a copy of its letter addressed to the Securities and Exchange Commission stating whether or not Brown Edwards a
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits The following are filed as Exhibits to this Report. Exhibit No. Description of Exhibit 16.1 Letter from Brown, Edwards & Company, L.L.P. to the Securities and Exchange Commission dated April 29, 2024 (FILED HEREWITH) 104 Cover page Interactive Data File (embedded within the inline XBRL document) 3 Table of Contents
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. OPTICAL CABLE CORPORATION By: /s/ Tracy G. Smith Name: Tracy G. Smith Title: Senior Vice President and Chief Financial Officer Dated: April 30, 2024 4