RGC Resources Changes Certifying Accountant on Jan 8, 2024
Ticker: RGCO · Form: 8-K · Filed: Jan 11, 2024 · CIK: 1069533
| Field | Detail |
|---|---|
| Company | Rgc Resources Inc (RGCO) |
| Form Type | 8-K |
| Filed Date | Jan 11, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $5 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: auditor-change, corporate-governance
TL;DR
**RGCO switched auditors on Jan 8, 2024, a routine move for financial oversight.**
AI Summary
RGC Resources, Inc. (RGCO) announced on January 8, 2024, that it has changed its independent registered public accounting firm. This means the company will have a new auditor reviewing its financial statements, which is a routine but important change for investors as it ensures continued independent oversight of the company's financial health.
Why It Matters
A change in auditors can sometimes signal underlying issues, but in this case, it appears to be a standard business practice, ensuring fresh eyes on the company's financial reporting and maintaining investor confidence in its transparency.
Risk Assessment
Risk Level: low — This filing reports a change in the company's certifying accountant, which is a common corporate event and does not inherently indicate significant risk.
Analyst Insight
A smart investor would note this change as a routine corporate governance item and look for any subsequent filings that might explain the reason for the change, though none is provided here. This filing alone doesn't warrant immediate action.
Key Players & Entities
- RGC RESOURCES, INC. (company) — the registrant changing its certifying accountant
- January 8, 2024 (date) — the date of the earliest event reported in the filing
- 000-26591 (other) — Commission File Number for RGC Resources, Inc.
- 54-1909697 (other) — IRS Employer Identification No. for RGC Resources, Inc.
- RGCO (other) — Trading Symbol for RGC Resources, Inc.
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on January 8, 2024, concerning changes in the registrant's certifying accountant.
What is the full name of the registrant as specified in its charter?
The exact name of the registrant as specified in its charter is RGC RESOURCES, INC.
What is the trading symbol and the exchange on which RGC Resources, Inc.'s Common Stock is registered?
RGC Resources, Inc.'s Common Stock, $5 Par Value, trades under the symbol RGCO on the NASDAQ Global Market.
What is the business address and phone number of RGC Resources, Inc.?
The business address is 519 Kimball Ave., N.E., Roanoke, Virginia 24016, and the telephone number is 540-777-4427.
Under which SEC Act is this current report filed?
This current report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 759 words · 3 min read · ~3 pages · Grade level 11.8 · Accepted 2024-01-11 17:18:49
Key Financial Figures
- $5 — ge on Which Registered Common Stock , $5 Par Value RGCO NASDAQ Global Market
Filing Documents
- rgco20240111_8k.htm (8-K) — 28KB
- ex_614455.htm (EX-16.1) — 5KB
- be01.jpg (GRAPHIC) — 10KB
- be02.jpg (GRAPHIC) — 6KB
- 0001437749-24-001218.txt ( ) — 186KB
- rgco-20240108.xsd (EX-101.SCH) — 3KB
- rgco-20240108_def.xml (EX-101.DEF) — 11KB
- rgco-20240108_lab.xml (EX-101.LAB) — 15KB
- rgco-20240108_pre.xml (EX-101.PRE) — 11KB
- rgco20240111_8k_htm.xml (XML) — 3KB
01
ITEM 4.01 CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.   In a letter dated January 8, 2024, Brown, Edwards & Company, L.L.P. ("BE") resigned as RGC Resources, Inc.'s (the "Company") independent registered public accounting firm.   The reports of BE on the Company's consolidated financial statements for the fiscal years ended September 30, 2022 and September 30, 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 fiscal years ended September 30, 2022 and September 30, 2023, and through January 8, 2024, there have been no "disagreements" (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) with BE 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 BE would have caused BE to make reference thereto in its reports on the consolidated financial statements for such years. During the fiscal years ended September 30, 2022 and September 30, 2023, and through January 8, 2024, there have been no "reportable events" (as defined in Item 304(a)(1)(v) of Regulation S-K).   The Company provided BE with a copy of the disclosure it is making herein in response to Item 304(a) of Regulation S-K, and requested that BE furnish the Company with a copy of its letter addressed to the Securities and Exchange Commission stating whether or not BE agrees with the disclosure. A copy of BE's letter dated January 11, 2024 is attached as Exhibit 16.1 to this report.   As the Company previously disclosed, the Audit Committee of the Board of Directors is in the midst of an audit tender process.  The Company currently intends to name a new audit firm beginning with the review of its first quarter of fiscal 2024.  The Company will file an additional Current
FINANCIAL STATEMENTS AND EXHIBITS
FINANCIAL STATEMENTS AND EXHIBITS.   (d) Exhibits   16.1  Brown Edwards letter to the SEC dated January 11, 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.         RGC RESOURCES, INC.           Date: January 11, 2024 By: /s/ Timothy J. Mulvaney       Timothy J. Mulvaney       Interim Chief Financial Officer and Treasurer