Why is Williams Companies filing an 8-K/A regarding Access Midstream Partners' auditor change?

Williams Companies, Inc. is filing this amendment because Access Midstream Partners, L.P. (ACMP) is considered a significant subsidiary. Changes in the auditor of a significant subsidiary are material information that must be disclosed to investors, and the parent company is providing further details and confirmations in this amended filing.

Were there any disagreements or issues that led to PwC's dismissal as ACMP's auditor?

No, the filing explicitly states that there were no disagreements with PricewaterhouseCoopers LLP (PwC) on any matters of accounting principles, practices, financial statement disclosure, or auditing scope or procedures. There were also no 'reportable events' as defined by SEC regulations.

What is the significance of Ernst & Young LLP (EY) also being WMB's auditor?

The fact that EY is the auditor for both Williams Companies, Inc. and its significant subsidiary, Access Midstream Partners, L.P., can streamline audit processes and potentially reduce administrative complexities. It also ensures consistency in auditing standards across the consolidated entity.

What does the attached letter from PwC signify?

The letter from PwC to the SEC, dated October 30, 2014, serves as an independent confirmation that PwC agrees with the statements made by Williams Companies and Access Midstream Partners regarding the circumstances of their dismissal. This reinforces the assertion that the change was amicable and not due to any accounting disputes.

WMB 8-K: Financial Events

Summary

This Form 8-K/A filing from The Williams Companies, Inc. (WMB) serves as an amendment and provides further details regarding a change in independent registered public accounting firms for its significant subsidiary, Access Midstream Partners, L.P. (ACMP). The primary focus is on the dismissal of PricewaterhouseCoopers LLP (PwC) as ACMP's auditor and the subsequent appointment of Ernst & Young LLP (EY). The filing confirms that the change was not due to any disagreements or reportable events concerning accounting principles, financial statement disclosures, or auditing procedures. This clarification is important for investors to understand that the auditor change is a routine administrative event and not indicative of underlying financial irregularities at ACMP or WMB.

Key Highlights

1Amendment to a previous 8-K filing detailing a change in independent auditors for a significant subsidiary.
2Access Midstream Partners, L.P. (ACMP), a significant subsidiary of Williams Companies, Inc. (WMB), dismissed PricewaterhouseCoopers LLP (PwC) as its independent auditor.
3Ernst & Young LLP (EY) has been appointed as ACMP's new independent registered public accounting firm.
4EY also serves as the independent registered public accounting firm for the parent company, Williams Companies, Inc.
5The filing explicitly states there were no disagreements with PwC on any matters of accounting principles, practices, financial statement disclosure, or auditing scope/procedures.
6There were also no 'reportable events' as defined by SEC regulations that would necessitate further disclosure.
7A letter from PwC to the SEC, confirming agreement with the company's statements regarding the auditor change, is attached as an exhibit.

WILLIAMS COMPANIES, INC. 8-K/A Report, Auditor Change (Nov 4, 2014)

Summary

Key Highlights

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