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News Breaks
June 4, 2014
07:38 EDTBNNYAnnie's accounting firm PricewaterhouseCoopers to resign
Annie's disclosed in a regulatory filing that on June 1, its Audit Committee was orally informed by its independent registered public accounting firm, PricewaterhouseCoopers, that PwC was resigning effective the earlier of August 11 or the completion of the company’s filing with the SEC of the Form 10-Q for the period ending June 30. The resignation was confirmed in a letter delivered to the committee on June 2. The committee has commenced a process to select a new accounting firm to serve as the company’s independent registered public accounting firm. Annie's said, "The reports of PwC on the company’s financial statements for each of the two fiscal years ended March 31, 2014 and 2013 did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. During the fiscal years ended March 31, 2014 and 2013 and in the subsequent interim period through June 1, 2014, there were no “disagreements” with PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to the satisfaction of PwC, would have caused PwC to make reference to the subject matter of such disagreements in their reports on the financial statements for such years. [Also in that period], except for the material weakness in internal control over financial reporting [previously identified by the company], there were no “reportable events” as defined in Item 304(a)(1)(v) of Regulation S-K of the rules and regulations of the Securities and Exchange Commission." In its letter to the SEC, PwC stated: "We agree with the statements concerning our Firm in such Form 8-K. We make no comment as to the Company’s statements regarding the status of the remediation of its material weakness as described in such Form 8-K."
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