Penumbra Inc. Changes Auditors
Ticker: PEN · Form: 8-K · Filed: Mar 21, 2024 · CIK: 1321732
| Field | Detail |
|---|---|
| Company | Penumbra Inc (PEN) |
| Form Type | 8-K |
| Filed Date | Mar 21, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
Related Tickers: PEN
TL;DR
Penumbra dumped PwC for EY, effective immediately.
AI Summary
Penumbra Inc. announced on March 17, 2024, that it has dismissed PricewaterhouseCoopers LLP as its independent registered public accounting firm. The company has appointed Ernst & Young LLP as its new independent registered public accounting firm, effective immediately.
Why It Matters
A change in auditors can sometimes signal underlying issues or a strategic shift within a company, potentially impacting investor confidence.
Risk Assessment
Risk Level: medium — Changes in auditors can sometimes precede or coincide with financial restatements or other significant disclosures, warranting closer scrutiny.
Key Players & Entities
- Penumbra Inc. (company) — Registrant
- PricewaterhouseCoopers LLP (company) — Dismissed independent registered public accounting firm
- Ernst & Young LLP (company) — Appointed independent registered public accounting firm
- March 17, 2024 (date) — Effective date of auditor change
FAQ
When was the change in Penumbra Inc.'s independent registered public accounting firm effective?
The change was effective as of March 17, 2024.
Who was Penumbra Inc.'s previous independent registered public accounting firm?
PricewaterhouseCoopers LLP was Penumbra Inc.'s previous independent registered public accounting firm.
Who is Penumbra Inc.'s new independent registered public accounting firm?
Ernst & Young LLP is Penumbra Inc.'s new independent registered public accounting firm.
What type of filing is this for Penumbra Inc.?
This is a Form 8-K filing.
What is the Central Index Key for Penumbra Inc.?
The Central Index Key for Penumbra Inc. is 0001321732.
Filing Stats: 842 words · 3 min read · ~3 pages · Grade level 13.2 · Accepted 2024-03-21 16:08:19
Key Financial Figures
- $0.001 — ich registered Common Stock, Par value $0.001 per share PEN The New York Stock Exchan
Filing Documents
- pen-20240317.htm (8-K) — 31KB
- ex161sec24040cessationlett.htm (EX-16.1) — 2KB
- 0001321732-24-000042.txt ( ) — 155KB
- pen-20240317.xsd (EX-101.SCH) — 2KB
- pen-20240317_lab.xml (EX-101.LAB) — 21KB
- pen-20240317_pre.xml (EX-101.PRE) — 12KB
- pen-20240317_htm.xml (XML) — 3KB
01. Changes in Registrant's Certifying Accountant
Item 4.01. Changes in Registrant's Certifying Accountant. The Audit Committee of the Board of Directors (the "Audit Committee") of Penumbra, Inc. (the "Company") has completed a process to review the appointment of the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024. As a result of this process, on March 17, 2024, the Company, with the approval of the Audit Committee, appointed PricewaterhouseCoopers LLP ("PwC") as the Company's independent registered public accounting firm for the Company's fiscal year ending December 31, 2024, subject to completion of its standard client acceptance procedures. Also on March 17, 2024, the Company, with the approval of the Audit Committee, dismissed Deloitte & Touche LLP ("Deloitte") as the Company's independent registered public accounting firm. Deloitte's reports 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. During the fiscal years ended December 31, 2023 and 2022, and the subsequent interim period through March 17, 2024, there were: (i) no "disagreements" within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions between the Company and Deloitte on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to Deloitte's satisfaction, would have caused Deloitte to make reference thereto in their reports; and (ii) no "reportable events" within the meaning of Item 304(a)(1)(v) of Regulation S-K. The Company provided Deloitte with a copy of the disclosures it is making in this Current Report on Form 8-K (this "Report") and requested that Deloitte furnish a letter addressed to the Securities and Exchange Commission stating whether
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 16.1 Letter from Deloitte & Touche LLP to the Securities and Exchange Commission dated March 20, 2024. 104 Cover Page Interactive Data File (formatted as Inline Extensible Business Reporting Language).
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. Penumbra, Inc. Date: March 21, 2024 By: /s/ Maggie Yuen Maggie Yuen Chief Financial Officer