Item 4.01. Changes in Registrant's Certifying Accountant.
The Audit Committee (the "Audit Committee") of the Board of Directors of Allegro
MicroSystems, Inc. (the "Company") conducted an evaluation process to determine
the Company's independent registered public accounting firm for the fiscal year
ending March 31, 2023. The Audit Committee, with the assistance of the Company's
management, evaluated several independent registered public accounting firms as
part of this process, reviewing the qualifications, the independence and, if a
firm was deemed to be qualified and independent to warrant further evaluation,
the range of fees associated with their services.
On June 7, 2022, the Audit Committee approved both the engagement of
PricewaterhouseCoopers LLP ("PwC") as the Company's independent registered
public accounting firm for the fiscal year ending March 31, 2023 and the
dismissal of the Grant Thornton LLP ("GT") as the Company's independent
registered public accounting firm, each effective immediately.
GT's (i) reports on the Company's consolidated financial statements and internal
control over financial reporting, which were included in the Company's Annual
Report on Form 10-K for the fiscal year ended March 25, 2022, and (ii) report on
the Company's consolidated financial statements, which was included in the
Company's Annual Report on Form 10-K for the fiscal year ended March 26, 2021,
did not contain an adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope or accounting principles.
During the fiscal years ended March 25, 2022 and March 26, 2021, and the
subsequent interim period through June 7, 2022, there were: (i) no disagreements
within the meaning of Item 304(a)(1)(iv) of Regulation S-K between the Company
and GT on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which, if not resolved to GT's
satisfaction, would have caused GT to make reference thereto in GT's reports;
and (ii) no "reportable events" within the meaning of Item 304(a)(1)(v) of
Regulation S-K.
The Company provided GT with a copy of the foregoing disclosures and requested
that GT furnish a letter addressed to the SEC stating whether or not it agrees
with the foregoing disclosures. A copy of GT's letter, dated June 9, 2022, is
filed as Exhibit 16.1 hereto.
During the fiscal years ended March 25, 2022 and March 26, 2021, and the
subsequent interim period through June 7, 2022, neither the Company nor anyone
on its behalf has consulted with PwC 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 Company's financial
statements, and neither a written report nor oral advice was provided to the
Company that PwC concluded was an important factor considered by the Company in
reaching a decision as to any accounting, auditing, or financial reporting
issue? (ii) any matter that was the subject of a disagreement within the meaning
of Item 304(a)(1)(iv) of Regulation S-K? or (iii) any "reportable event" within
the meaning of Item 304(a)(1)(v) of Regulation S-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
Exhibit 16.1 Letter of Grant Thornton LLP, dated June 9, 2022
Exhibit 104 Cover Page Interactive Data File (formatted as Inline XBRL and
contained in Exhibit 101).
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