Summary
This 8-K/A filing from General Electric (GE) serves as an amendment to a previous report concerning the change of their independent registered public accounting firm. The key takeaway for investors is the formal conclusion of KPMG's audit for the fiscal year ended December 31, 2020, and their subsequent dismissal as auditors. As previously disclosed, Deloitte has been appointed as the new independent auditor for the fiscal year ending December 31, 2021. Importantly, the filing confirms that KPMG's reports on GE's financial statements for the years ended December 31, 2019, and 2020, did not contain any adverse opinions, disclaimers, or qualifications. Furthermore, there were no disagreements or reportable events between GE and KPMG during the relevant periods that would necessitate further disclosure. This indicates a smooth and uneventful transition in the auditing process.
Key Highlights
- 1KPMG has completed its audit of General Electric's consolidated financial statements for the fiscal year ended December 31, 2020.
- 2KPMG's tenure as GE's independent registered public accounting firm for the fiscal year ended December 31, 2020, has concluded.
- 3Deloitte was previously selected as the independent registered public accounting firm for the fiscal year ending December 31, 2021.
- 4KPMG's audit reports for fiscal years 2019 and 2020 were not adverse, disclaimed, qualified, or modified.
- 5There were no disagreements or 'reportable events' with KPMG during the fiscal years 2019, 2020, and up to February 12, 2021.
- 6GE has requested and received a letter from KPMG confirming these statements, filed as an exhibit.
- 7No prior consultations with Deloitte occurred regarding specific accounting principles, audit opinions, disagreements, or reportable events prior to their appointment.