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MarketScreener Homepage  >  Equities  >  Nyse  >  MSG Networks Inc.    MSGN

MSG NETWORKS INC.

(MSGN)
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MSG NETWORKS INC. : Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits (form 8-K)

11/24/2020 | 04:56pm EST

Item 4.01 Changes in Registrant's Certifying Accountant.

As reflected in the proxy statement for the 2020 Annual Meeting of Stockholders MSG Networks Inc. (the "Company") as filed with the Securities and Exchange Commission on October 21, 2020, the Audit Committee of the Company's Board of Directors (the "Audit Committee") has conducted a periodic review of its independent registered public accounting firm for the fiscal year ending June 30, 2021.

Following that review, which included a request for proposals, on November 18, 2020, the Audit Committee selected Deloitte & Touche LLP ("Deloitte") as the Company's independent registered public accounting firm for the Company's fiscal year ending June 30, 2021, effective as of November 18, 2020. KPMG LLP ("KPMG"), the Company's current independent registered public accounting firm, was dismissed by the Audit Committee on November 18, 2020.

KPMG's reports on the Company's consolidated financial statements as of and for the fiscal years ended June 30, 2020 and 2019 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. KPMG's report on the Company's consolidated financial statements as of and for the year ended June 30, 2020, contained an unqualified opinion that the financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2020 and 2019, and the results of its operations and its cash flows for each of the years in the three-year period ended June 30, 2020, in conformity with U.S. generally accepted accounting principles. KPMG's report on the Company's consolidated financial statements as of and for the year ended June 30, 2019, contained an unqualified opinion that the financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2019 and 2018, and the results of its operations and its cash flows for each of the years in the three-year period ended June 30, 2019, in conformity with U.S. generally accepted accounting principles.

During the fiscal years ended June 30, 2020 and 2019, and the subsequent interim periods through November 18, 2020, including the Company's fiscal first quarter ended September 30, 2020, there were: (i) no disagreements within the meaning of Item 304(a)(1)(iv) of Regulation S-K promulgated under the Securities Exchange Act of 1934 ("Regulation S-K") and the related instructions between the Company and KPMG on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to KPMG's satisfaction, would have caused KPMG to make reference to such disagreements in their reports on the Company's consolidated financial statements for such periods; or (ii) no "reportable events" within the meaning of Item 304(a)(1)(v) of Regulation S-K.

The Company provided KPMG with a copy of this Form 8-K prior to its filing with the Securities and Exchange Commission and requested that KPMG furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not KPMG agrees with the above statements and stating the respects, if any, in which KPMG does not agree with such statements. A copy of KPMG's letter, dated November 24, 2020, is filed as Exhibit 16.1 to this Form 8-K.

During the fiscal years ended June 30, 2020 and 2019 and the subsequent interim periods through November 18, 2020, neither the Company nor anyone on its behalf has consulted with Deloitte regarding any of the matters described in Items 304(a)(2)(i) and (ii) of Regulation S-K.

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Item 9.01 Financial Statements and Exhibits.





  (d) Exhibits




16.1       Letter from KPMG LLP

104      Cover Page Interactive Data File (embedded within the Inline XBRL document).

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© Edgar Online, source Glimpses

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