Studio City Appoints New Auditor

TL;DR

Studio City swapped auditors, bringing in PwC to replace Deloitte.

AI Summary

Studio City International Holdings Limited announced a change in its certifying accountant on June 7, 2024. The Audit Committee of the board of directors has appointed PricewaterhouseCoopers as the new independent registered public accounting firm, replacing Deloitte Touche Tohmatsu.

Why It Matters

A change in auditor can signal potential shifts in financial reporting scrutiny or strategic direction for the company.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of a change in independent auditors and does not present immediate financial or operational risks.

Key Players & Entities

• Studio City International Holdings Limited (company) — Registrant
• PricewaterhouseCoopers (company) — Newly appointed auditor
• Deloitte Touche Tohmatsu (company) — Former auditor
• Audit Committee (company) — Oversight body

FAQ

Filing Documents

• d846158d6k.htm (6-K) — 16KB
• d846158dex161.htm (EX-16.1) — 2KB
• 0001193125-24-156625.txt ( ) — 19KB

From the Filing

Form 6-K Table of Contents FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a16 OR 15d16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of June 2024 Commission File Number: 001-38699 STUDIO CITY INTERNATIONAL HOLDINGS LIMITED 71 Robinson Road #04-03 Singapore 068895 and 38 th Floor, The Centrium 60 Wyndham Street Central Hong Kong (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20F or Form 40F. Form 20-FForm 40-F Table of Contents Change in Registrants Certifying Accountant The audit and risk committee (the Audit Committee ) of the board of directors of Studio City International Holdings Limited (the Company ) conducted a review process to consider the selection of the Companys independent registered public accounting firm for the audits of the Companys consolidated financial statements and internal control over financial reporting as of and for the fiscal year ending December 31, 2024 to be filed with the U.S. Securities and Exchange Commission ( SEC ). On June 7, 2024, the board of directors of the Company approved the appointment of Deloitte & Touche LLP, located in Singapore ( Deloitte ) and dismissed Ernst & Young LLP ( EY SG ) as the Companys independent registered public accounting firm for the audits of the Companys consolidated financial statements and internal control over financial reporting to be filed with the SEC, effective on June 7, 2024. The change of the Companys independent registered public accounting firm was recommended by the Audit Committee and made after a review process conducted by the Audit Committee. In addition, Deloitte will also replace EY SG as the independent auditors of Studio City Finance Limited and Studio City Investments Limited, including with respect to filings to be made with the Singapore Stock Exchange. The replacement of the local affiliates of EY SG with local affiliates of Deloitte as the independent auditors of certain of the Companys subsidiaries are subject to approval from relevant local regulatory authorities. EY SGs audit reports on the Companys consolidated financial statements as of and for the years ended December 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 each of the years ended December 31, 2023 and 2022, and in the subsequent interim period ended June 6, 2024, there has been no disagreement (as defined in Item 16F(a)(1)(iv) to Form 20-F and the related instructions thereto) with EY SG 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 SG, would have caused them to make reference to the subject matter of the disagreements in their reports on the consolidated financial statements for such years, and no reportable events occurred (as set forth in Item 16F(a)(1)(v) of Form 20-F). During each of the years ended December 31, 2023 and 2022, and the subsequent interim period ended June 6, 2024, neither the Company nor anyone on behalf of the Company has consulted with Deloitte regarding (i) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Companys consolidated financial statements, and neither a written report nor oral advice was provided to the Company that Deloitte concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issues, (ii) any matter that was the subject of disagreement pursuant to Item 16F(a)(1)(iv) of the instructions to Form 20-F, or (iii) any reportable events pursuant to Item 16F(a)(1)(v) of the instructions to Form 20-F. The Company has provided EY SG with a copy of the disclosures contained in this Form 6-K, and has requested EY SG to furnish the Company with a letter addressed to the SEC stating whether EY SG agrees with the statements made by the Company in this Form 6-K and, if not, stating the respects in which it does not agree. A copy of such letter from EY SG, dated June 7, 2024, is filed as Exhibit 16.1 to this Form 6-K. 2 Table of Contents STUDIO CITY INTERNATIONAL HOLDINGS LIMITED Form 6K TABLE OF CONTENTS Signature 4 Exhibit 16.1 3 Table of Contents SIGNATURE 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, thereunto duly authorized. STUDIO CITY INTERNATIONAL HOLDINGS LIMITED By: /s/ Geoffrey Davis Name: Geoffrey Davis, CFA Title: Chief Financial Officer Date: June 7, 2024 4 Table of Contents EXHIBIT INDEX Exhibit No

View Full Filing

View this 6-K filing on SEC EDGAR