What is the main reason for this 8-K filing?

The primary reason for this 8-K filing is to report a change in the independent registered public accounting firm for Williams Companies' significant subsidiary, Access Midstream Partners, L.P. (ACMP). ACMP's Audit Committee dismissed PwC and appointed EY.

Were there any disagreements with the former auditor, PwC?

No, the filing explicitly states that there were no disagreements on any matter of accounting principles, practices, financial statement disclosure, or auditing scope or procedure with PwC. PwC has also provided a letter to the SEC confirming this.

Is this change in auditor a sign of financial trouble for WMB or ACMP?

Based on the information provided in this filing, the change in auditors appears to be an administrative matter and not indicative of financial trouble. The company has stated there were no disagreements with the former auditor, and the new auditor has not been consulted on any prior issues that were material to decision-making.

Who is Access Midstream Partners, L.P. (ACMP) and why is its auditor change important to WMB investors?

Access Midstream Partners, L.P. (ACMP) is described as a significant subsidiary of The Williams Companies, Inc. (WMB). Changes in auditors for significant subsidiaries can sometimes signal underlying issues, but in this case, the filing assures investors that the change was routine and without dispute, aiming to maintain auditor independence and fulfill regulatory requirements.

WMB 8-K: Financial Events

Summary

Williams Companies, Inc. (WMB) filed an 8-K on October 3, 2014, primarily to report a change in the independent registered public accounting firm for its significant subsidiary, Access Midstream Partners, L.P. (ACMP). The Audit Committee of ACMP's General Partner dismissed PricewaterhouseCoopers LLP (PwC) and appointed Ernst & Young LLP (EY) as its new auditor. This change is effective from the filing of ACMP's Form 10-Q for the quarter ended September 30, 2014. The filing states that the change in auditors was not due to any disagreements or reportable events with PwC. PwC has provided a letter to the SEC confirming this. Additionally, there have been no consultations with EY that would be considered a factor in ACMP's accounting or auditing decisions. This event is primarily administrative and does not appear to reflect underlying financial issues for ACMP or WMB at this time.

Key Highlights

1Williams Companies, Inc. reported a change in independent auditor for its significant subsidiary, Access Midstream Partners, L.P. (ACMP).
2PricewaterhouseCoopers LLP (PwC) was dismissed as ACMP's auditor.
3Ernst & Young LLP (EY) has been appointed as ACMP's new independent registered public accounting firm.
4The change in auditors is effective upon the filing of ACMP's Form 10-Q for the quarter ended September 30, 2014.
5The filing explicitly states there were no disagreements or reportable events with the former auditor, PwC.
6PwC has provided a letter to the SEC confirming the absence of disagreements.
7There were no prior consultations with EY that would be considered material to ACMP's accounting decisions.

WILLIAMS COMPANIES, INC. 8-K Report, Auditor Change (Oct 3, 2014)

Summary

Key Highlights

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