Summary
American Electric Power Co., Inc. (AEP) announced a change in its independent registered public accounting firm in an 8-K filing on July 28, 2016. The company's Audit Committee determined not to renew its engagement with Deloitte & Touche LLP for the audits of its consolidated financial statements for the fiscal year ending December 31, 2017. This decision follows a competitive bidding process where other firms, including PricewaterhouseCoopers LLP, were invited to participate.
Key Highlights
- 1AEP's Audit Committee has appointed PricewaterhouseCoopers LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2017.
- 2Deloitte & Touche LLP will continue to serve as the auditor for the fiscal year ending December 31, 2016, including the filing of the related Form 10-K.
- 3The change in auditors was a result of a competitive bidding process initiated by the Audit Committee.
- 4There were no disagreements or reportable events between AEP and Deloitte & Touche LLP during the past two fiscal years (2014-2015) or the subsequent interim period, as defined by Regulation S-K.
- 5AEP and its subsidiaries did not consult with PricewaterhouseCoopers LLP on any matters requiring disclosure under Item 304(a)(2) of Regulation S-K prior to the appointment.
- 6The company has filed a letter from Deloitte & Touche LLP as Exhibit 16.1 to this 8-K, confirming their agreement with the statements made regarding the auditor change.