Were there any issues or disagreements with the previous auditor, PricewaterhouseCoopers LLP?

No, according to the filing, there were no disagreements with PricewaterhouseCoopers LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures during the relevant periods. There were also no reportable events as defined by SEC regulations.

Does this change in auditor affect Tyco International's overall financial reporting?

This filing specifically pertains to the Retirement Savings and Investment Plan VII, which is a separate entity from Tyco International's main operating business. While a change in auditor for a plan associated with a company can sometimes be a point of interest, it does not directly impact the financial statements or reporting of Tyco International's core operations as presented in this specific filing.

What is the significance of Exhibit 16.1?

Exhibit 16.1 is a letter from the former independent accountants, PricewaterhouseCoopers LLP, to the Securities and Exchange Commission. This letter confirms whether PricewaterhouseCoopers LLP agrees with the statements made by the Plan regarding the change in accountants and the absence of any disagreements or reportable events.

JCI 8-K SEC Disclosure — Apr 21, 2004

Q: What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to report a change in the independent accountants for the Tyco International (US) Inc. Retirement Savings and Investment Plan VII. It formally announces the dismissal of PricewaterhouseCoopers LLP and the engagement of Mitchell & Titus LLP.

Summary

This Current Report (8-K) filed by the Tyco International (US) Inc. Retirement Savings and Investment Plan VII on April 20, 2004, primarily announces a change in the Plan's independent accountants. Effective April 19, 2004, the Plan dismissed PricewaterhouseCoopers LLP and engaged Mitchell & Titus LLP as its new independent accountants. The filing includes statements confirming no disagreements or reportable events with the outgoing auditor, PricewaterhouseCoopers LLP, during the relevant periods. The Plan has also provided PricewaterhouseCoopers LLP with a copy of these disclosures and requested confirmation from them, with a supporting letter attached as an exhibit. For investors, this filing is important as it signals a change in auditor for a retirement savings plan. While the report states there were no disagreements with the former auditor, a change in accounting firms can sometimes precede or coincide with other financial developments or scrutiny. Investors should note that this report pertains specifically to the retirement savings plan and not directly to Tyco International's core operating business, though it is part of the broader Tyco corporate structure.

Key Highlights

1The Tyco International (US) Inc. Retirement Savings and Investment Plan VII has changed its independent accountants.
2PricewaterhouseCoopers LLP was dismissed as the Plan's independent accountants effective April 19, 2004.
3Mitchell & Titus LLP has been engaged as the Plan's new independent accountants, effective April 19, 2004.
4The filing states there were no disagreements with PricewaterhouseCoopers LLP regarding accounting principles, financial statement disclosures, or auditing procedures during the years ended December 31, 2001 and 2002, and through April 19, 2004.
5There were no reportable events (as defined in Item 304(a)(1)(v) of Regulation S-K) with the former accountants.
6The Plan confirmed that it did not consult with Mitchell & Titus LLP on any accounting matters prior to their engagement.
7A letter from PricewaterhouseCoopers LLP confirming agreement with the disclosures made in the filing is included as an exhibit (Exhibit 16.1).

Johnson Controls International plc 8-K Report (Apr 21, 2004)

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