Why is Flextronics changing its independent auditor?

The Audit Committee of Flextronics' Board of Directors determined that it would replace Arthur Andersen LLP as the company's independent auditors. The specific reasons for this decision are not detailed in the filing, but it is presented as a committee decision.

When will the new auditor officially take over?

The proposed appointment of Deloitte & Touche LLP is for the fiscal year ending March 31, 2003. The change is subject to shareholder approval at the company's 2002 Annual General Meeting.

Were there any issues or disagreements with Arthur Andersen LLP?

No. The filing explicitly states that there were no disagreements between Flextronics and Arthur Andersen LLP on any matter of accounting principles, practices, financial statement disclosure, or auditing scope or procedure. Furthermore, no reportable events, as defined by Regulation S-K, occurred.

Has Deloitte & Touche LLP been consulted on any accounting matters prior to this appointment?

No, the company states that it did not consult with Deloitte & Touche LLP on any accounting principles or auditing opinions during the relevant periods prior to this proposed appointment.

FLEX 8-K SEC Disclosure

Summary

This 8-K filing from Flextronics International Ltd. (FLEX), dated May 8, 2002, announces a significant change in the company's independent auditors. The Audit Committee has decided to replace Arthur Andersen LLP with Deloitte & Touche LLP as the company's independent auditors for the fiscal year ending March 31, 2003. This change is subject to shareholder approval at the upcoming Annual General Meeting. The filing explicitly states that there were no disagreements with Arthur Andersen LLP regarding accounting principles, financial disclosures, or auditing procedures during the relevant periods, nor were there any reportable events as defined by SEC regulations.

Key Highlights

1Flextronics International Ltd. is changing its independent auditor.
2Arthur Andersen LLP is being replaced by Deloitte & Touche LLP.
3The change is proposed for the fiscal year ending March 31, 2003.
4Shareholder approval is required for the appointment of Deloitte & Touche LLP.
5There were no disagreements with Arthur Andersen LLP on accounting or auditing matters.
6No reportable events occurred that would necessitate disclosure regarding the change in auditors.
7Arthur Andersen LLP has provided a letter concurring with the company's statements regarding the auditor change.

FLEX LTD. 8-K Report (May 8, 2002)

Summary

Key Highlights

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