Item 4.01. Changes in Registrant's Certifying Accountant.
(a) Dismissal of Former Independent Registered Public Accounting Firm
The Audit Committee of the Board of Directors of John Wiley & Sons, Inc. (the
"Company") conducted a competitive process to determine the Company's
independent registered public accounting firm for the fiscal year ending April
30, 2024. Several firms were invited to participate in this process including
KPMG LLP ("KPMG"), which has served as the Company's independent registered
public accounting firm since 2002.
As a result of this process, following the review and evaluation of the
proposals from the participating firms, on January 30, 2023, the Audit Committee
of the Board of Directors of the Company approved the dismissal of KPMG,
effective following the completion of their audit of the Company's consolidated
financial statements as of and for the year ended April 30, 2023, and the
effectiveness of internal control over financial reporting as of April 30, 2023,
and the issuance of their reports thereon.
The audit reports of KPMG on the Company's consolidated financial statements as
of and for the years ended April 30, 2022 and 2021, did not contain any adverse
opinion or disclaimer of opinion, nor were they qualified or modified as to
uncertainty, audit scope or accounting principles. The audit reports of KPMG on
the effectiveness of internal control over financial reporting as of April 30,
2022 and 2021, did not contain any adverse opinion or disclaimer of opinion, nor
were they qualified or modified as to uncertainty, audit scope or accounting
principles, except that KPMG's report dated July 6, 2021, contained a separate
paragraph stating that "The Company acquired Hindawi during the year ended April
30, 2021, and management excluded from its assessment of the effectiveness of
the Company's internal control over financial reporting as of April 30, 2021,
Hindawi's internal control over financial reporting associated with less than 1%
of total assets, excluding goodwill and intangible assets which are included
within the scope of the assessment, and less than 1% of total revenue included
in the consolidated financial statements of the Company as of and for the year
ended April 30, 2021. Our audit of internal control over financial reporting of
the Company also excluded an evaluation of the internal control over financial
reporting of Hindawi."
During the fiscal years ended April 30, 2022 and 2021 and the subsequent interim
period through January 30, 2023, (i) there were no disagreements with KPMG
(within the meaning of Item 304(a)(1)(iv) of Regulation S-K ("Regulation S-K")
of the rules and regulations of the U.S. Securities and Exchange Commission (the
"SEC")) 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 KPMG would have caused them to make a reference in
connection with their opinion to the subject matter of the disagreement; and
(ii) there were no "reportable events" requiring disclosure pursuant to
paragraph (a)(1)(v) of Item 304 of Regulation S-K.
In accordance with Item 304(a)(3) of Regulation S-K, the Company provided KPMG
with a copy of the foregoing disclosures and requested that KPMG provide a
letter addressed to the SEC stating whether it agrees with such disclosures. A
copy of KPMG's letter dated February 2, 2023, is filed as Exhibit 16.1 to this
Form 8-K.
(b) Appointment of New Independent Registered Public Accounting Firm
As a result of the competitive process noted above, the Audit Committee, on
January 30, 2023, has selected and appointed PricewaterhouseCoopers LLP ("PwC")
as the Company's new independent registered public accounting firm, subject to
completion of PwC's standard client acceptance procedures and execution of an
engagement letter. PwC's appointment will be for the Company's fiscal year
ending April 30, 2024.
During the Company's two most recent fiscal years ended April 30, 2022 and 2021,
and for the subsequent interim period through January 30, 2023, neither the
Company nor anyone on its behalf consulted PwC regarding any of the matters set
forth in Items 304(a)(2)(i) or (ii) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. Description
16.1 Letter of KPMG LLP dated February 2, 2023
Exhibit 104 Cover Page Interactive Data File (formatted as Inline XBRL)
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