8-K/AFinancial EventsExhibits & Filings

MERCADOLIBRE INC 8-K/A Report, Auditor Change (Feb 25, 2022)

Filed February 25, 2022For Securities:MELI

Summary

This 8-K/A filing from MercadoLibre, Inc. (MELI) serves as an amendment to a prior filing, confirming the formal appointment of Pistrelli, Henry Martin y Asociados S.R.L. (Ernst & Young - EY) as the company's new independent registered public accounting firm for the fiscal year ending December 31, 2022, and related interim periods. This change follows the completion of audit services by Deloitte & Co S.A. for the fiscal year ended December 31, 2021, for which Deloitte's report was included in MELI's Form 10-K filed on February 23, 2022. The amendment clarifies that the engagement letter with EY was executed on December 20, 2021, formalizing the decision made in November 2021. Importantly, the filing states there were no disagreements on accounting principles or reportable events with Deloitte during the relevant periods, other than previously disclosed material weaknesses in internal control over financial reporting. Investors can take comfort that this change in auditors appears to be a standard transition without any underlying accounting disputes or issues that would raise concerns about past financial reporting.

Key Highlights

  • 1MercadoLibre (MELI) formally appointed Pistrelli, Henry Martin y Asociados S.R.L. (EY) as its independent registered public accounting firm for the fiscal year ending December 31, 2022.
  • 2This appointment follows the completion of audit services by Deloitte & Co S.A. for the fiscal year ended December 31, 2021.
  • 3The engagement letter with EY was officially executed on December 20, 2021.
  • 4Deloitte's audit reports for the fiscal years 2020 and 2021 did not contain any adverse opinions, disclaimers of opinion, or modifications.
  • 5There were no disagreements with Deloitte on accounting principles, financial statement disclosures, or auditing procedures during the fiscal years 2020-2021 and the subsequent interim period.
  • 6No 'reportable events' requiring disclosure were noted with Deloitte, except for previously disclosed material weaknesses in internal control over financial reporting.
  • 7MercadoLibre confirmed no consultations with EY occurred regarding specific accounting transactions, potential audit opinions, disagreements, or reportable events prior to this auditor change.

Frequently Asked Questions

This filing amends a previous report to formally confirm that MercadoLibre, Inc. has officially engaged Pistrelli, Henry Martin y Asociados S.R.L. (Ernst & Young - EY) as its new independent registered public accounting firm for the fiscal year ending December 31, 2022, and related interim periods. It also provides details regarding the transition from the previous auditor, Deloitte & Co S.A.

The change is part of a standard auditor rotation process. Deloitte & Co S.A. completed its audit services for the fiscal year ended December 31, 2021, and MercadoLibre's Board of Directors' Audit Committee selected EY to serve as the new independent registered public accounting firm for the upcoming fiscal year 2022.

The filing explicitly states that there were no disagreements with Deloitte on any matters of accounting principles, financial statement disclosure, or auditing scope or procedure during the relevant periods. Additionally, no 'reportable events' requiring disclosure were noted, with the exception of material weaknesses in internal control over financial reporting that were previously disclosed by the company.

No, the company states that neither it nor anyone on its behalf consulted with EY regarding the application of accounting principles to any specific transaction, the type of audit opinion that might be rendered, any disagreements, or any reportable events prior to this formal appointment.