Summary
This 8-K filing from Colgate-Palmolive Co. on November 28, 2006, primarily concerns the resignation of the independent registered public accounting firm for the Colgate-Palmolive Company Employees Savings & Investment Plan, Mitchell & Titus, LLP. The resignation is proactive, driven by Mitchell & Titus's upcoming membership with Ernst & Young Global Limited, aimed at avoiding potential future conflicts of interest. Importantly, the filing explicitly states there were no disagreements or reportable issues with Mitchell & Titus during their engagement, and their past audit reports were unqualified.
Key Highlights
- 1Resignation of Mitchell & Titus, LLP as the independent auditor for the Employees Savings & Investment Plan.
- 2Reason for resignation: Mitchell & Titus's impending membership with Ernst & Young Global Limited to prevent future conflicts of interest.
- 3Confirmation of no auditor independence issues or disagreements with Mitchell & Titus during their tenure.
- 4Mitchell & Titus's audit reports for the past two years were clean, with no adverse opinions, disclaimers, or qualifications.
- 5The Plan has not yet appointed a new independent registered public accounting firm.
- 6Mitchell & Titus had been engaged as the Plan's auditor since May 2002.