8-KFinancial EventsExhibits & Filings

JPMORGAN CHASE & CO 8-K Report, Auditor Change (Nov 30, 2006)

Filed November 30, 2006For Securities:JPMJPM-PCJPM-PDJPM-PKJPM-PLJPM-PMJPM-PJAMJBVYLD

Summary

This 8-K filing by JPMORGAN CHASE & CO (JPM) on November 30, 2006, primarily reports a change in the independent registered public accounting firm for The JPMorgan Chase 401(k) Savings Plan. Mitchell & Titus, LLP, resigned from its role effective November 30, 2006, due to its membership with Ernst & Young Global. The Audit Committee of JPMorgan Chase & Co. has accepted this resignation. Importantly, this change in auditor pertains specifically to the 401(k) Savings Plan and not to the main JPM corporate financial statements. Investors should note that a new accounting firm for the plan has not yet been appointed. The filing explicitly states there were no disagreements or reportable events between the plan and Mitchell & Titus that would have typically accompanied such a resignation, as detailed in SEC regulations.

Key Highlights

  • 1The independent registered public accounting firm for The JPMorgan Chase 401(k) Savings Plan, Mitchell & Titus, LLP, has resigned effective November 30, 2006.
  • 2The resignation is due to Mitchell & Titus becoming a member firm of Ernst & Young Global.
  • 3The Audit Committee of JPMorgan Chase & Co. has accepted the resignation.
  • 4A new independent registered public accounting firm for the 401(k) Savings Plan has not yet been engaged.
  • 5There were no disagreements with Mitchell & Titus on any accounting principles, financial statement disclosure, or auditing scope/procedure.
  • 6No reportable events (as defined by Regulation S-K) occurred during the relevant periods.
  • 7This change relates specifically to the 401(k) Savings Plan, not the overall JPM corporate audit.

Frequently Asked Questions

No, this 8-K filing specifies that the change in auditor affects only The JPMorgan Chase 401(k) Savings Plan. The independent auditors for JPM's consolidated financial statements are not mentioned as changing in this report.

Mitchell & Titus resigned because it became a member firm of Ernst & Young Global on November 30, 2006. This is a structural change within the accounting firm itself, leading to the resignation from auditing specific entities.

No, the filing explicitly states there were no disagreements with Mitchell & Titus on any matter of accounting principles, practices, financial statement disclosure, or auditing scope or procedure. Furthermore, there were no reportable events as defined by SEC regulations.

As of the filing date (November 30, 2006), a new independent registered public accounting firm for the Plan had not yet been engaged.