Summary
Republic Services, Inc. (RSG) filed an 8-K on June 24, 2002, to report a significant change in its independent auditors. Effective June 21, 2002, the Company dismissed Arthur Andersen LLP and appointed Ernst & Young LLP as its new auditors for the fiscal year ending December 31, 2002. This decision was made following a review of proposals for auditing services and was approved by the Board of Directors upon the recommendation of the Audit and Nominating Committee. Importantly, the filing states there were no disagreements with Arthur Andersen on any accounting principles, financial statement disclosures, or auditing procedures during the relevant periods. This suggests the change was a proactive decision by the company, possibly related to broader industry changes affecting Arthur Andersen at the time, rather than due to audit issues with Republic Services. Investors should note this transition as it impacts the oversight of the company's financial reporting.
Key Highlights
- 1Republic Services, Inc. has changed its independent registered public accounting firm, dismissing Arthur Andersen LLP and engaging Ernst & Young LLP.
- 2The change is effective immediately as of June 21, 2002, for the fiscal year ending December 31, 2002.
- 3The decision to change auditors was made after the Company sought proposals from independent accountants.
- 4The Company's Board of Directors approved the change based on the recommendation of its Audit and Nominating Committee.
- 5There were no disagreements or reportable issues with Arthur Andersen LLP concerning accounting principles, financial statement disclosures, or auditing scope/procedures in the prior two fiscal years or the subsequent interim period.
- 6Republic Services, Inc. did not consult with Ernst & Young LLP on any matters prior to their engagement that would be reportable under Regulation S-K.
- 7An accompanying letter from Arthur Andersen LLP regarding the change of certifying accountant is filed as an exhibit.