8-K/AFinancial Events

BRISTOL MYERS SQUIBB CO 8-K/A Report, Auditor Change (Apr 17, 2006)

Filed April 17, 2006For Securities:BMYCELG-RIBMYMP

Summary

This 8-K/A filing from Bristol-Myers Squibb Puerto Rico, Inc. Savings and Investment Program reports an amendment regarding the change of its independent registered public accounting firm. Initially, Deloitte & Touche LLP (D&T) was appointed for the 2005 and 2006 fiscal years, replacing PricewaterhouseCoopers LLP (PwC). However, D&T subsequently resigned as the auditor for the fiscal year ended December 31, 2005, citing potential independence concerns. While D&T will continue as the auditor for the 2006 fiscal year, their resignation for the 2005 period is a notable point for investors. The filing clarifies that D&T had not performed any audit procedures on the 2005 financial statements prior to their resignation. The Plan anticipates filing its Form 11-K in a timely manner.

Key Highlights

  • 1Amendment to a previous 8-K filing concerning auditor changes for the Bristol-Myers Squibb Puerto Rico, Inc. Savings and Investment Program.
  • 2Deloitte & Touche LLP (D&T) appointed as the new auditor, replacing PricewaterhouseCoopers LLP (PwC) for fiscal years 2005 and 2006.
  • 3D&T resigned as the auditor for the fiscal year ended December 31, 2005, due to potential independence concerns.
  • 4D&T will continue to serve as the auditor for the fiscal year 2006.
  • 5No audit procedures were performed by D&T on the Plan's financial statements for the year ended December 31, 2005, prior to their resignation.
  • 6The Plan expects to file its Form 11-K on time.
  • 7The filing is signed by Andrew R.J. Bonfield, Chief Financial Officer and Chairman of the Savings Plan Committee, indicating executive oversight.

Frequently Asked Questions

This amended filing (8-K/A) provides an update regarding the change in the independent registered public accounting firm for the Bristol-Myers Squibb Puerto Rico, Inc. Savings and Investment Program. Specifically, it reports the resignation of Deloitte & Touche LLP (D&T) as the auditor for the fiscal year ended December 31, 2005, due to potential independence concerns, even though they were initially appointed.

Deloitte & Touche LLP resigned as the auditor for the fiscal year ended December 31, 2005, due to potential independence concerns. The filing clarifies they had not yet performed any audit procedures for that period before their resignation.

Yes, Deloitte & Touche LLP will remain the Plan's auditors for the 2006 fiscal year. Their resignation was specifically for the fiscal year ended December 31, 2005.

This filing specifically pertains to the Bristol-Myers Squibb Puerto Rico, Inc. Savings and Investment Program. While it involves the company's CFO, the auditor change reported here is for the Plan's financials, not necessarily for the consolidated financial statements of Bristol-Myers Squibb Company.