01—Abstract
Summary
Summary of the 8-K filed March 22, 2010. Cited figures are marked; the original filing is the authoritative source.
This 8-K filing from Comcast Corporation primarily concerns changes in the independent registered public accounting firms for its retirement and 401(k) plans.
On March 16, 2010, Mitchell & Titus, LLP resigned as the auditor for the Comcast Corporation Retirement – Investment Plan and the Comcast Spectacor 401(k) Plan due to the firm's anticipated hiring of a former Comcast employee, which would impair their independence under SEC rules. The filing indicates there were no disagreements or reportable events with Mitchell & Titus, LLP during their tenure. Subsequently, on March 22, 2010, Comcast appointed Deloitte & Touche LLP as the new independent auditor for these plans for the year ended December 31, 2009.
02—Key points
Key Highlights
- Comcast Corporation announced a change in its independent auditors for its employee retirement plans.
- Mitchell & Titus, LLP resigned as the auditor for the Comcast Corporation Retirement – Investment Plan and the Comcast Spectacor 401(k) Plan.
- The resignation was due to Mitchell & Titus, LLP hiring a former Comcast employee, creating an independence issue under SEC regulations.
- No disagreements or reportable events were noted with the outgoing auditor, Mitchell & Titus, LLP.
- Deloitte & Touche LLP has been appointed as the new independent registered public accounting firm for the plans.
- The appointment of Deloitte & Touche LLP is effective for the year ended December 31, 2009.
- The filing addresses Item 4.01 of Form 8-K concerning changes in registrant's certifying accountant for the plans.
03—Questions
Frequently Asked Questions
Why did Comcast change its auditors for the retirement plans?
Comcast changed auditors because the previous firm, Mitchell & Titus, LLP, resigned due to their upcoming hiring of a former Comcast employee. This would have violated SEC rules regarding auditor independence.
Were there any issues or disagreements with the previous auditor, Mitchell & Titus, LLP?
No, the filing explicitly states that there were no disagreements with Mitchell & Titus, LLP on any matters of accounting principles, practices, financial statement disclosure, or auditing scope or procedure.
Who is the new auditor for Comcast's retirement plans?
Deloitte & Touche LLP has been appointed as the new independent registered public accounting firm for the Comcast Corporation Retirement – Investment Plan and the Comcast Spectacor 401(k) Plan.
What period does the new auditor's appointment cover?
Deloitte & Touche LLP has been appointed as the independent auditor for the plans for the year ended December 31, 2009.
04—Continue