What is the significance of the auditor change for GE shareholders?

For GE shareholders, this filing is primarily procedural. The change relates specifically to the audit of the Amersham Health Employee Savings Plan, not GE's consolidated financial statements. The key takeaway is that the transition was conducted smoothly, with no reported disagreements with the outgoing auditor (PwC) and confirmation that prior audits were clean, suggesting no underlying financial issues with the plan itself were uncovered.

Were there any issues with the previous auditor, PricewaterhouseCoopers?

No, the filing explicitly states that PricewaterhouseCoopers LLP (PWC) did not issue any adverse opinions, disclaimers of opinion, or qualifications/modifications in its reports for the Plan's financial statements for the years ended December 31, 2002 and 2001. Furthermore, there were no disagreements or reportable events between the Plan and PWC during the relevant periods.

Has GE consulted with KPMG before engaging them?

According to the filing, the Amersham Health Employee Savings Plan did not consult with KPMG LLP on any accounting or auditing matters prior to their engagement as the Plan's auditor for the year ended December 31, 2003.

GE 8-K SEC Disclosure — Jul 9, 2004

Q: Why is GE filing this 8-K?

GE is filing this 8-K to report a change in its independent auditors for the Amersham Health Employee Savings Plan, which is a consequence of GE's acquisition of Amersham plc.

Summary

This 8-K filing by General Electric Company (GE) primarily reports a change in the independent auditors for the Amersham Health Employee Savings Plan (the "Plan") due to GE's acquisition of Amersham plc. PricewaterhouseCoopers LLP (PWC) was dismissed as the Plan's auditor on May 14, 2004, and KPMG LLP has been engaged to audit the Plan's financial statements for the year ended December 31, 2003. Importantly, the filing states that PWC's previous reports on the Plan's financial statements for 2002 and 2001 contained no adverse opinions or qualifications. Furthermore, there were no disagreements or reportable events with PWC during the relevant periods leading up to the change. The Audit Committee of GE approved the engagement of KPMG. PWC has confirmed its agreement with the statements made in this filing.

Key Highlights

1Change in independent auditors for the Amersham Health Employee Savings Plan following GE's acquisition of Amersham plc.
2PricewaterhouseCoopers LLP (PWC) was dismissed as the Plan's auditor on May 14, 2004.
3KPMG LLP has been engaged to audit the Plan's financial statements for the year ended December 31, 2003.
4PWC's prior audit reports for the years ended 2002 and 2001 were without adverse opinion, disclaimer, or qualification.
5No disagreements or reportable events occurred between the Plan and PWC during the relevant periods.
6The Audit Committee of GE approved the engagement of KPMG.
7PWC has provided a letter confirming its agreement with the statements made in the filing.

GENERAL ELECTRIC CO 8-K Report (Jul 9, 2004)

Summary

Key Highlights

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