Summary
Ford Motor Company (F) filed a Form 8-K on March 8, 2006, to report a change in its independent accountant for the Ford Motor Company Savings and Stock Investment Plan for Salaried Employees. Effective March 8, 2006, Plante & Moran, PLLC has been engaged to audit the Plan's financial statements, replacing PricewaterhouseCoopers LLP (PwC) who was dismissed. This change is specific to the employee savings and stock investment plan and does not impact PwC's role as the auditor for the main Ford Motor Company or Ford Motor Credit Company. The filing details that there were no disagreements or reportable events with PwC during their tenure related to the Plan's financial reporting. Investors should note this is a procedural change for a specific employee benefit plan and not indicative of broader financial reporting issues for the parent company.
Key Highlights
- 1Ford Motor Company Savings and Stock Investment Plan for Salaried Employees has a new independent accountant.
- 2Plante & Moran, PLLC replaces PricewaterhouseCoopers LLP (PwC) as the auditor for the Plan.
- 3The change is effective as of March 8, 2006.
- 4Plante & Moran will audit the Plan's financial statements for the year ended December 31, 2005, and the one-day period ended December 31, 2004.
- 5The decision was approved by the Audit Committee of Ford Motor Company's Board of Directors.
- 6This change is solely for the employee savings plan and does not affect PwC's auditor role for Ford Motor Company or Ford Motor Credit Company.
- 7No disagreements or reportable events occurred with PwC regarding the Plan's financial statements.