8-KFinancial EventsExhibits & Filings

BRISTOL MYERS SQUIBB CO 8-K Report, Auditor Change (Mar 17, 2006)

Filed March 17, 2006For Securities:BMYCELG-RIBMYMP

Summary

Bristol-Myers Squibb Company (BMY) filed an 8-K report on March 17, 2006, to disclose a change in the independent registered public accounting firm for its Puerto Rico Savings and Investment Program. Effective March 14, 2006, the Audit Committee appointed Deloitte & Touche LLP (D&T) as the new auditor for the 2005 and 2006 fiscal years, replacing PricewaterhouseCoopers LLP (PwC).

Key Highlights

  • 1Change of independent auditor for the Bristol-Myers Squibb Puerto Rico, Inc. Savings and Investment Program.
  • 2Deloitte & Touche LLP (D&T) appointed as the new auditor for fiscal years 2005 and 2006.
  • 3PricewaterhouseCoopers LLP (PwC) was dismissed as the Plan's auditor.
  • 4The change became effective on March 14, 2006.
  • 5The Audit Committee of Bristol-Myers Squibb Company's Board of Directors made the appointment.
  • 6There were no disagreements or reportable events with the former auditor (PwC) during the relevant periods.
  • 7Bristol-Myers Squibb did not consult with the new auditor (D&T) on specific matters prior to their appointment.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally announce a change in the independent registered public accounting firm responsible for auditing the Bristol-Myers Squibb Puerto Rico, Inc. Savings and Investment Program.

The filing states that the Audit Committee appointed Deloitte & Touche LLP (D&T) as the new auditor for the 2005 and 2006 fiscal years, replacing PricewaterhouseCoopers LLP (PwC). The specific reasons for the change beyond the appointment of a new firm are not detailed in this report, but it indicates a formal decision by the Audit Committee.

No, the filing explicitly states that there were no disagreements or 'reportable events' with the outgoing auditor, PricewaterhouseCoopers LLP (PwC), on any accounting principles, financial statement disclosures, or auditing procedures. This suggests a smooth transition without any underlying issues.

Deloitte & Touche LLP (D&T) is now auditing the Plan's financial statements for the fiscal year ended December 31, 2005, and is appointed for the 2006 fiscal year.