01—Abstract
Summary
Summary of the 8-K/A filed March 11, 2013. Cited figures are marked; the original filing is the authoritative source.
Quture International, Inc. (BRRN) filed an amendment to its Form 8-K on March 11, 2013, to correct a date referenced in a prior filing.
The primary focus of this amended filing is to disclose a change in the company's independent registered public accounting firm. Effective March 4, 2013, the company terminated its relationship with R.R. Hawkins & Associates International, PC ('Hawkins').
This change in auditors is significant for investors as it comes with specific disclosures regarding the prior auditor's reports. While Hawkins' reports for the fiscal years ended April 30, 2012, and 2011, did not contain any adverse opinions or disclaimers, they did include an explanatory paragraph raising substantial doubt about the company's ability to continue as a going concern. Importantly, the company states there were no disagreements with Hawkins on accounting principles, financial statement disclosures, or auditing procedures that would have led to a reference in Hawkins' reports.
02—Key points
Key Highlights
- Quture International, Inc. filed an amendment (8-K/A) to a previous Form 8-K filing.
- The amendment corrects a date reference in the original filing.
- The company changed its independent registered public accounting firm on March 4, 2013.
- The previous auditor, R.R. Hawkins & Associates International, PC ('Hawkins'), was terminated.
- Hawkins' audit reports for fiscal years 2011 and 2012 included an explanatory paragraph regarding substantial doubt about the company's ability to continue as a going concern.
- There were no disagreements between Quture International and Hawkins regarding accounting principles or auditing procedures.
- DKM Certified Public Accountants ('DKM') has been engaged as the new independent auditor.
03—Questions
Frequently Asked Questions
Why is Quture International filing an amendment to its Form 8-K?
Quture International is filing an amendment (Form 8-K/A) primarily to correct a date referenced in its original Form 8-K filing from March 8, 2013. The substantive content of the filing, concerning the change of auditors, remains the same.
What is the significance of the change in auditors?
The change in auditors is significant because the previous auditor, R.R. Hawkins & Associates International, PC, included an explanatory paragraph in its audit reports for the fiscal years ended April 30, 2012, and 2011. This paragraph raised substantial doubt about the company's ability to continue as a going concern. While the company states there were no disagreements, a change in auditors, especially under these circumstances, warrants investor attention.
Was there any disagreement with the former auditor, R.R. Hawkins & Associates International, PC?
According to the filing, there were no disagreements between Quture International and R.R. Hawkins & Associates International, PC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
Who is the new independent auditor?
The company has engaged DKM Certified Public Accountants ('DKM') as its new independent registered public accounting firm.
04—Continue