Item 4.01 - Changes in Registrant's Certifying Accountant
Resignation of Independent Registered Public Accounting Firm
On November 19, 2021, the Audit Committee (the "Audit Committee") of the Board
of Directors of Vintage Wine Estates, Inc., (the "Company") received notice from
Moss Adams, LLP, the Company's independent registered public accounting firm
("Moss Adams"), that it had made the decision to resign as the Company's
independent registered public accounting firm, effective November 19, 2021. On
November 19, 2021, the Audit Committee accepted the resignation of Moss Adams.
The Company is in the process of engaging a new independent registered public
accounting firm.
Moss Adams audited the consolidated financial statements of the Company as of
and for the fiscal years ended June 30, 2021 and 2020. The report of Moss Adams
on such consolidated financial statements, dated October 13, 2021, did not
contain an adverse opinion or disclaimer of opinion and was not qualified or
modified as to uncertainty, audit scope or accounting principles.
For the two most recent fiscal years and subsequent interim periods to the date
of resignation, there have been no disagreements with Moss Adams on any matter
of accounting principles or practices, financial statement disclosures, or
auditing scope or procedure, which disagreement, if not resolved to the
satisfaction of Moss Adams, would have caused them to make reference thereto in
their report on the consolidated financial statements.
During the two most recent fiscal years and subsequent interim periods to the
date of resignation, there were no reportable events, as that term is defined in
Item 304(a)(1)(v) of Regulation S-K, except for the material weakness in the
Company's internal control over financial reporting previously disclosed in the
Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2021. As
previously disclosed, during the audit of the Company's fiscal 2021 consolidated
financial statements, management identified a material weakness in the Company's
internal control over financial reporting relating to business processes and
controls to perform reconciliations of certain account balances related to
inventory and the received not invoiced and cellar accruals, on a regular basis.
The Audit Committee has discussed the material weakness with Moss Adams and the
Company has authorized Moss Adams to respond fully to inquiries of the Company's
new independent registered public accounting firm, when engaged, concerning the
material weakness.
The Company has provided Moss Adams with a copy of the disclosure made in
response to this Item 4.01 and has requested that Moss Adams provide a letter
addressed to the Securities and Exchange Commission confirming their agreement
with the disclosures contained herein. Pursuant to such request, Moss Adams has
provided the letter attached hereto as Exhibit 16.1.
Item 9.01 - Financial Statements and Exhibits
(d) Exhibits
Exhibit No. Description
16.1 Letter to SEC from Moss Adams, LLP dated November 24, 2021
104 Cover Page Interactive Data File (embedded within the inline XBRL
document)
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