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 Form 8-K/A filing from Bristol-Myers Squibb Company (BMY) primarily concerns an amendment related to the Employee Incentive Thrift Plan's independent registered public accounting firm. The most significant development is the resignation of Deloitte & Touche LLP (D&T) as the Plan's auditor for the year ended December 31, 2005, citing potential independence concerns. Although D&T was initially appointed to replace PricewaterhouseCoopers LLP (PwC) on March 14, 2006, their tenure for the 2005 audit was cut short. Despite the resignation for the 2005 fiscal year, D&T will continue to serve as the Plan's auditors for the 2006 fiscal year. Notably, D&T had not yet performed any audit procedures on the 2005 financial statements before their resignation. The company expects to file the Plan's Form 11-K in a timely manner. Investors should note that this filing pertains specifically to the Employee Incentive Thrift Plan and not the broader company's financial statements.

Key Highlights

  • 1Amendment filed for Bristol-Myers Squibb Company Employee Incentive Thrift Plan.
  • 2Deloitte & Touche LLP (D&T) resigned as the Plan's independent auditor for the year ended December 31, 2005.
  • 3The resignation of D&T was due to potential independence concerns.
  • 4D&T was initially appointed on March 14, 2006, replacing PricewaterhouseCoopers LLP (PwC).
  • 5D&T had not performed any audit procedures on the 2005 financial statements prior to resignation.
  • 6D&T will continue to serve as the Plan's auditor for the 2006 fiscal year.
  • 7The Plan's Form 11-K is expected to be filed on time.

Frequently Asked Questions

This filing amends a previous report and primarily announces the resignation of Deloitte & Touche LLP as the independent auditor for the Bristol-Myers Squibb Company Employee Incentive Thrift Plan for the fiscal year ended December 31, 2005, citing independence concerns.

This change specifically pertains to the Employee Incentive Thrift Plan and its audit, not the consolidated financial statements of Bristol-Myers Squibb Company. While it's a notable event for the plan, it does not directly impact the company's broader financial reporting at this time.

No, Deloitte & Touche LLP did not perform any audit procedures on the Employee Incentive Thrift Plan's financial statements for the year ended December 31, 2005, prior to their resignation.

Yes, the company expects to file the Plan's Form 11-K in a timely manner, despite the auditor change for the 2005 fiscal year.