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 filing is an amendment to a previous Form 8-K, specifically addressing a change in the independent registered public accounting firm for the Bristol-Myers Squibb Company Savings and Investment Program. While Deloitte & Touche LLP (D&T) was initially appointed to audit the program for fiscal years 2005 and 2006, they subsequently resigned as auditors for the year ended December 31, 2005, citing potential independence concerns. D&T will continue to serve as the auditors for the 2006 fiscal year, and no audit procedures for 2005 had been completed prior to their resignation. PricewaterhouseCoopers LLP (PwC) was the prior auditor for the plan.

Key Highlights

  • 1Amendment filed for a previous 8-K report.
  • 2Focuses on the independent registered public accounting firm for the Bristol-Myers Squibb Company Savings and Investment Program.
  • 3Deloitte & Touche LLP (D&T) resigned as auditors for the 2005 fiscal year due to potential independence concerns.
  • 4D&T was initially appointed on March 14, 2006, replacing PricewaterhouseCoopers LLP (PwC).
  • 5D&T will continue to serve as auditors for the 2006 fiscal year.
  • 6No audit procedures for the 2005 fiscal year had been performed by D&T prior to their resignation.
  • 7The Plan's Form 11-K is expected to be filed on time.

Frequently Asked Questions

The main purpose of this amended filing (Form 8-K/A) is to update investors on a change regarding the independent auditors for the Bristol-Myers Squibb Company Savings and Investment Program. Specifically, it details the resignation of Deloitte & Touche LLP as auditors for the 2005 fiscal year due to potential independence issues.

Initially, Deloitte & Touche LLP (D&T) was appointed as the auditor for the fiscal years 2005 and 2006, replacing PricewaterhouseCoopers LLP (PwC). However, D&T resigned from their role as auditor for the 2005 fiscal year on April 11, 2006, citing potential independence concerns. They will remain as the auditors for the 2006 fiscal year.

This specific filing pertains to the Savings and Investment Program, not the consolidated financial statements of Bristol-Myers Squibb Company. While the change in auditors for the program is notable, it does not directly affect the audit of the main company's financial statements, though it might raise questions about internal controls or audit processes within the program's administration.

According to the filing, the Plan's Form 11-K (which reports on the details of the savings and investment plan) is expected to be filed in a timely manner, despite the auditor change for the 2005 fiscal year.