8-KFinancial EventsExhibits & Filings

General Motors Co 8-K Report, Auditor Change (Sep 29, 2017)

Filed September 29, 2017For Securities:GM

Summary

General Motors Company (GM) announced a change in its principal independent registered public accounting firm. The company's Audit Committee has approved the engagement of Ernst & Young LLP (EY) to serve as GM's independent registered public accounting firm for the fiscal year ending December 31, 2018. This decision follows a competitive process involving multiple accounting firms. Deloitte & Touche LLP (Deloitte), the current auditor, will continue to audit GM's financial statements for the fiscal year ending December 31, 2017. The company has stated that there were no disagreements or reportable events with Deloitte during the relevant periods, and Deloitte has provided a letter to the SEC confirming this. Furthermore, GM has stated that there was no prior consultation with EY regarding accounting matters or disagreements during the specified periods.

Key Highlights

  • 1GM is changing its independent registered public accounting firm for the 2018 fiscal year.
  • 2Ernst & Young LLP (EY) has been selected as the new auditor for fiscal year 2018.
  • 3Deloitte & Touche LLP (Deloitte) will continue as the auditor for the fiscal year 2017.
  • 4The change follows a competitive selection process conducted by GM's Audit Committee.
  • 5GM states there were no disagreements or reportable events with Deloitte in prior periods.
  • 6Deloitte has confirmed GM's statements in a letter filed with the SEC.
  • 7There were no prior consultations with EY on accounting matters or disagreements.

Frequently Asked Questions

General Motors' Audit Committee conducted a competitive process to select a new independent registered public accounting firm for the fiscal year ending December 31, 2018. Following this process, Ernst & Young LLP was chosen.

Yes, Deloitte & Touche LLP will continue as General Motors' independent registered public accounting firm and will audit the company's financial statements for the fiscal year ending December 31, 2017.

No, General Motors explicitly stated in the filing that there were no disagreements on any matters of accounting principles, financial statement disclosure, or auditing scope and procedure with Deloitte during the fiscal years 2015 and 2016, or the subsequent interim periods through September 25, 2017. Deloitte has also provided a letter to the SEC affirming these statements.

General Motors stated that during the specified periods, neither the company nor anyone on its behalf consulted with EY regarding accounting principles, audit opinions, disagreements, or reportable events.