8-K/AFinancial EventsExhibits & Filings

ABBOTT LABORATORIES 8-K/A Report, Auditor Change (Feb 24, 2014)

Filed February 24, 2014For Securities:ABT

Summary

This Form 8-K/A filing from Abbott Laboratories provides an amendment related to the change in its certifying accountant. Specifically, it confirms the formal dismissal of Deloitte & Touche LLP as the independent registered public accountant, effective upon the completion of their audit services for the fiscal year ended December 31, 2013, and the subsequent filing of the 2013 Form 10-K on February 21, 2014. The filing assures investors that there were no disagreements or reportable events between Abbott and Deloitte during the relevant periods that would have impacted Deloitte's audit reports. Furthermore, the amendment reiterates the previously announced appointment of Ernst & Young LLP as the new independent registered public accounting firm, commencing with the fiscal year ending December 31, 2014. Abbott confirms that there were no consultations with Ernst & Young regarding accounting principles, audit opinions, or any reportable events or disagreements prior to their appointment. This filing is a procedural update for investors, confirming the smooth transition of the company's auditing relationship.

Key Highlights

  • 1Abbott Laboratories formally confirms the dismissal of Deloitte & Touche LLP as its independent registered public accountant.
  • 2The dismissal is effective after Deloitte completed the audit for the fiscal year ended December 31, 2013.
  • 3Abbott filed its 2013 Annual Report on Form 10-K on February 21, 2014, marking the completion of Deloitte's audit services.
  • 4The filing states there were no disagreements on accounting principles or financial disclosure matters between Abbott and Deloitte.
  • 5No 'reportable events' as defined by SEC regulations occurred between Abbott and Deloitte during the specified periods.
  • 6Ernst & Young LLP was previously appointed as the new independent registered public accounting firm, effective for the fiscal year ending December 31, 2014.
  • 7Abbott confirms no prior consultations with Ernst & Young on accounting issues or potential disagreements before their appointment.

Frequently Asked Questions

The main purpose of this 8-K/A filing is to formally amend and confirm information related to Abbott Laboratories' change in its independent registered public accounting firm. It confirms the dismissal of Deloitte & Touche LLP and reiterates the appointment of Ernst & Young LLP.

No, the filing explicitly states that there were no disagreements on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure between Abbott Laboratories and Deloitte & Touche LLP. There were also no 'reportable events' during the relevant fiscal years and up to the filing date.

The appointment of Ernst & Young LLP as the new independent registered public accounting firm is significant as it signals the start of a new auditing relationship for Abbott Laboratories. This transition is standard practice and the filing confirms that there were no pre-appointment consultations that would suggest any underlying accounting concerns.

Deloitte & Touche LLP's dismissal became effective upon the completion of their audit services for the fiscal year ended December 31, 2013, and the subsequent filing of Abbott's 2013 Form 10-K on February 21, 2014. Ernst & Young LLP's appointment begins with the fiscal year ending December 31, 2014.