Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Boston Omaha Corporation    BOMN

BOSTON OMAHA CORPORATION

(BOMN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

BOSTON OMAHA CORP : Changes in Registrant's Certifying Accountant (form 8-K)

08/17/2020 | 04:32pm EST

ITEM 4.01 CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT

The Audit Committee ("Committee") of the Board of Directors of Boston Omaha Corporation (the "Company") recently conducted a selection process to determine the Company's independent registered accounting firm for the fiscal year ending December 31, 2020. The Committee invited several public accounting firms to participate in this process, and as a result of this process, the Committee approved the appointment of KPMG LLP ("KPMG") as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2020 effective August 17, 2020, replacing MaloneBailey, LLP ("MaloneBailey").

(a) Dismissal of Independent Registered Public Accounting Firm

On August 17, 2020 ("Dismissal Date") the Committee approved the dismissal of MaloneBailey as the Company's independent registered public accounting firm.

The reports of MaloneBailey on the financial statements for the fiscal years ended December 31, 2019 and 2018 contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principle, except that MaloneBailey's report on internal control over financial reporting expressed an opinion that the Company had not maintained effective internal control over financial reporting as of December 31, 2018. The material weaknesses identified related to the design and operating effectiveness of process controls over the review and approval of journal entries and the approval and authorization of expenditures. For the fiscal year ended December 31, 2019, MaloneBailey expressed an opinion that the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2019, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

During the fiscal years ended December 31, 2019 and 2018 and the subsequent interim period through the Dismissal Date, there were no disagreements (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304) with MaloneBailey 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 MaloneBailey would have caused MaloneBailey to make reference thereto in its reports on the Company's financial statements for such years. During the fiscal years ended December 31, 2019 and 2018 and the subsequent interim period through the Dismissal Date, there have been no reportable events (as that term is defined in Item 304(a)(1)(v) of Regulation S-K), except for the material weaknesses described above, all of which were subsequently remediated as of December 31, 2019.

The Company has provided MaloneBailey with a copy of the disclosures it is making in this Current Report on Form 8-K prior to its filing with the Securities and Exchange Commission ("SEC"), and has requested MaloneBailey to furnish the Company with a letter addressed to the SEC stating whether or not it agrees with the statements made herein, and if not, stating the reasons for their disagreement. A copy of such letter, dated August 17, 2020, is filed as Exhibit 16.1 to this Current Report on Form 8-K.

(b) Newly Engaged Independent Registered Public Accounting Firm

On August 17, 2020, the accounting firm of KPMG was engaged by the Committee as the Company's new independent registered public accounting firm to perform independent audit services for the Company for the fiscal year ending December 31, 2020 (including with respect to the Company's quarterly period ending September 30, 2020), effective immediately.

During the fiscal year ended December 31, 2019 and December 31, 2018 and through the subsequent interim period as of August 17, 2020, neither the Company, nor any party on behalf of the Company, consulted with KPMG with respect to either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of the audit opinion that might be rendered with respect to the Company's consolidated financial statements, and no written report or oral advice was provided to the Company by KPMG that was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue, or (ii) any matter that was subject to any "disagreement" (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a "reportable event" (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).

                                       2

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

All news about BOSTON OMAHA CORPORATION
2020BOSTON OMAHA CORP : Completion of Acquisition or Disposition of Assets, Regulati..
AQ
2020BOSTON OMAHA CORPORATION : Completes the Acquisition of Utah Broadband, LLC
BU
2020BOSTON OMAHA CORP : Entry into a Material Definitive Agreement, Other Events, Fi..
AQ
2020BOSTON OMAHA : Unit to Acquire Utah Broadband
MT
2020BOSTON OMAHA CORPORATION : Announces Agreement to Acquire the Assets of Utah Bro..
BU
2020BOSTON OMAHA : 3Q Earnings Snapshot
AQ
2020BOSTON OMAHA CORP : Regulation FD Disclosure (form 8-K)
AQ
2020Earnings Flash (BOMN) BOSTON OMAHA CORPORATION Posts Q3 Revenue $11.6M
MT
2020BOSTON OMAHA CORPORATION : Announces Third Quarter 2020 Financial Results
BU
2020BOSTON OMAHA : Management's Discussion and Analysis of Financial Condition and R..
AQ
More news