01—Abstract
Summary
Summary of the 8-K filed March 25, 2005. Cited figures are marked; the original filing is the authoritative source.
This 8-K filing by Comcast Corporation on March 25, 2005, primarily pertains to the Comcast-Spectacor 401(k) Plan.
The key event reported is the auditor of the Plan, Grant Thornton LLP, not standing for re-appointment. The filing clarifies that there were no disagreements or reportable events with Grant Thornton LLP during the fiscal years 2003, 2002, or the subsequent interim period up to the filing date, regarding accounting principles, financial disclosures, or auditing procedures. While this filing concerns a change in auditor for the 401(k) Plan, not the main Comcast Corporation's financial statements, it's a procedural update.
Investors should note the absence of any contentious issues related to the audit, suggesting a smooth transition to a new auditor. A letter from Grant Thornton LLP confirming these statements is filed as an exhibit, providing an additional layer of transparency for stakeholders.
02—Key points
Key Highlights
- Comcast-Spectacor 401(k) Plan's auditor, Grant Thornton LLP, will not stand for re-appointment.
- The decision regarding Grant Thornton LLP's re-appointment was made on March 23, 2005.
- There were no disagreements on accounting principles, practices, financial statement disclosures, or auditing procedures between the Plan and Grant Thornton LLP.
- No 'reportable events' (as defined by Regulation S-K) occurred during the fiscal years ended December 31, 2003, December 31, 2002, or the subsequent interim period.
- The filing includes a letter from Grant Thornton LLP addressed to the SEC, confirming agreement with the disclosures made by the Plan.
- This is a procedural filing related to the 401(k) Plan's audit, not a direct financial report of Comcast Corporation's core operations.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
The main purpose of this 8-K filing is to report a change in the certifying accountant for the Comcast-Spectacor 401(k) Plan. Specifically, it announces that the Plan's auditor, Grant Thornton LLP, will not be re-appointed.
Were there any disputes or disagreements with the outgoing auditor, Grant Thornton LLP?
No, the filing explicitly states that there were no disagreements between the Comcast-Spectacor 401(k) Plan and Grant Thornton LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure during the relevant periods. Additionally, no 'reportable events' occurred.
Does this filing affect Comcast Corporation's main financial statements or stock?
This particular 8-K filing relates to the Comcast-Spectacor 401(k) Plan, which is a retirement plan for employees. While it is filed by Comcast Corporation, it does not directly pertain to the consolidated financial statements of the main operating company or its stock performance. It is a procedural update regarding the plan's auditing.
What does it mean that the auditor 'will not stand for re-appointment'?
This phrase means that Grant Thornton LLP has indicated they will not be seeking or accepting reappointment as the auditor for the Comcast-Spectacor 401(k) Plan when their current term expires. The filing details that this decision was made by the Plan on March 23, 2005, after receiving notification from Grant Thornton LLP.
04—Continue