8-KFinancial EventsExhibits & Filings

Guardant Health, Inc. 8-K Report, Auditor Change (Apr 10, 2023)

Filed April 10, 2023For Securities:GH

Summary

Guardant Health, Inc. has announced a change in its independent registered public accounting firm. Effective immediately as of April 4, 2023, the company has dismissed Ernst & Young LLP and engaged Deloitte & Touche LLP as its auditor for the fiscal year ending December 31, 2023. This change appears to be a routine transition, as the filing indicates no disagreements or reportable events with Ernst & Young during their tenure. The company has confirmed this with Ernst & Young, whose letter of agreement is filed as an exhibit. Investors should note this change in auditors is not accompanied by any adverse findings or specific concerns raised by the outgoing auditor, suggesting a standard rotation or strategic decision by Guardant Health's Audit Committee.

Key Highlights

  • 1Guardant Health, Inc. has appointed Deloitte & Touche LLP as its new independent registered public accounting firm for the fiscal year ending December 31, 2023.
  • 2Ernst & Young LLP has been dismissed as the Company's independent registered public accounting firm, effective immediately as of April 4, 2023.
  • 3The dismissal of Ernst & Young was not due to any disagreements on accounting principles, financial statement disclosure, or auditing procedures.
  • 4There were no "reportable events" (as defined by SEC regulations) between Guardant Health and Ernst & Young during the relevant periods.
  • 5Guardant Health consulted with Deloitte & Touche LLP prior to their engagement, but these consultations did not involve any matters that would be considered a disagreement or reportable event.
  • 6Ernst & Young has provided a letter to the SEC agreeing with the statements made by Guardant Health in this Form 8-K filing, which is included as an exhibit.
  • 7This auditor change appears to be a procedural event without immediate implications for the company's financial reporting integrity or past financial statements.

Frequently Asked Questions

The filing indicates that the Audit Committee of the Board of Directors approved the engagement of Deloitte & Touche LLP and the dismissal of Ernst & Young LLP. While the specific strategic reasons for the change are not detailed, the filing explicitly states there were no disagreements or reportable events with Ernst & Young, suggesting it is a standard transition rather than a result of issues.

No, the filing explicitly states that Ernst & Young's audit reports for the past two fiscal years did not contain any adverse opinions, disclaimers of opinion, or qualifications. Furthermore, there were no disagreements on accounting matters or reportable events during their tenure.

Deloitte & Touche LLP is one of the 'Big Four' accounting firms, known for its extensive experience auditing public companies. Their engagement suggests Guardant Health is maintaining a relationship with a major, reputable audit firm. The filing notes that prior consultations with Deloitte did not involve any disagreements or reportable events.

Based on the information provided in this 8-K filing, this auditor change is unlikely to impact previously issued financial statements. The dismissal of Ernst & Young was without any noted disagreements or reportable events, and Ernst & Young has confirmed their agreement with the statements made in the filing.