8-KFinancial EventsExhibits & Filings

FAIR ISAAC CORP 8-K Report, Auditor Change (Nov 17, 2004)

Filed November 17, 2004For Securities:FICO

Summary

Fair Isaac Corporation (FICO) has announced a change in its independent auditors. Effective November 14, 2004, the company dismissed KPMG LLP and appointed Deloitte & Touche LLP as its new independent accountants. This change is effective for the fiscal year commencing October 1, 2004, although KPMG will complete its audit for the fiscal year ended September 30, 2004, and issue its report. The company has stated that KPMG's reports for the fiscal years ended September 30, 2003, and 2002, did not contain adverse opinions or disclaimers, nor were they qualified, with specific references made to changes in accounting methods for goodwill and business combinations. Importantly, FICO has confirmed that there were no disagreements with KPMG on any matters of accounting principles, financial statement disclosure, or auditing procedures during the relevant periods, nor did FICO consult with Deloitte & Touche prior to the engagement.

Key Highlights

  • 1Fair Isaac Corporation (FICO) has changed its independent auditor, dismissing KPMG LLP.
  • 2Deloitte & Touche LLP has been appointed as the new independent accounting firm.
  • 3The change is effective for the fiscal year commencing October 1, 2004.
  • 4KPMG will continue to audit the fiscal year ended September 30, 2004.
  • 5FICO reported no disagreements with KPMG regarding accounting principles or auditing procedures.
  • 6FICO did not consult with Deloitte & Touche on any matters prior to this engagement.

Frequently Asked Questions

The company's Audit Committee approved the dismissal of KPMG LLP and the engagement of Deloitte & Touche LLP as its new independent accountants. The specific reasons for the dismissal are not detailed beyond the Audit Committee's approval, but the company stated there were no disagreements on accounting principles or auditing procedures.

Yes, KPMG LLP will continue to serve as FICO's independent accountants through the completion of their audit for the fiscal year ended September 30, 2004, and the issuance of their audit report for that period. The change to Deloitte & Touche is effective for the fiscal year commencing October 1, 2004.

No, the filing explicitly states that there were no disagreements with KPMG on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure for the fiscal years ended September 30, 2003, and 2002, nor for the period up to the date of the filing (November 17, 2004).

No, the company has stated that during the fiscal years ended September 30, 2003, and 2002, and through the date of the filing, FICO did not consult with Deloitte & Touche regarding any matters or events that would typically require such consultation under SEC regulations.