8-KFinancial EventsExhibits & Filings

CROWN CASTLE INC. 8-K Report, Auditor Change (Dec 13, 2010)

Filed December 13, 2010For Securities:CCI

Summary

Crown Castle International Corp. (CCI) filed an 8-K on December 13, 2010, to announce significant changes in its independent auditors. Effective December 8, 2010, the Audit Committee approved the dismissal of KPMG LLP as the company's independent registered public accountants. This dismissal is effective upon the completion of KPMG's audit for the fiscal year ending December 31, 2010. Concurrently, the company engaged PricewaterhouseCoopers LLP (PwC) to serve as its independent registered public accountants for the fiscal year ending December 31, 2011. Notably, the filing states that there were no disagreements or reportable events with KPMG regarding accounting principles, financial statement disclosures, or auditing procedures during the periods under review. Furthermore, there was no prior consultation with PwC on any accounting or auditing matters that would be considered significant to the company's decision-making process. Investors should view this auditor change as a routine procedural matter, with assurances provided that no underlying financial reporting issues prompted the switch.

Key Highlights

  • 1Crown Castle International Corp. (CCI) is changing its independent registered public accountants.
  • 2KPMG LLP has been dismissed as the company's auditor, effective upon completion of the 2010 audit.
  • 3PricewaterhouseCoopers LLP (PwC) has been appointed as the new independent registered public accountants for the fiscal year 2011.
  • 4The company stated there were no disagreements with KPMG on any accounting principles, disclosures, or auditing matters.
  • 5There were no prior consultations with PwC that influenced this decision regarding accounting or auditing issues.
  • 6The change in auditors is not attributed to any reportable events as defined by SEC regulations.
  • 7KPMG has provided a letter to the SEC agreeing with the statements made in this filing.

Frequently Asked Questions

The Form 8-K filing indicates that the Audit Committee approved the dismissal of KPMG and the engagement of PwC. The filing explicitly states there were no disagreements or reportable events with KPMG, suggesting this is a standard change in auditor rather than a result of financial reporting issues.

Based on the information provided in the 8-K, no. The filing clearly states that there were no disagreements with KPMG on accounting principles or practices, financial statement disclosure, or auditing scope or procedure. It also states that there were no 'reportable events'.

PwC has been engaged as the independent registered public accountants for the fiscal year ending December 31, 2011. Their full audit responsibilities would typically commence following the completion of KPMG's audit for the 2010 fiscal year.

A 'reportable event,' as defined by Regulation S-K, refers to specific types of disagreements or issues between a company and its auditor that could be material to investors, such as disagreements on accounting principles, financial statement disclosures, or auditing procedures. The absence of reportable events in this filing suggests a smooth transition without significant disputes.