CALAMP CORP. (NASDAQ:CAMP) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01. Change in Registrant’s Certifying Accountant.
On August 11, 2017, the Board of Directors of CalAmp Corp. (the “Company”) approved the dismissal of BDO USA, LLP (“BDO”) as its independent registered accounting firm. The Board of Directors determined that this change was warranted as a result of the Company’s continued growth since first engaging BDO on August 28, 2015.
The audit reports of BDO on the Company’s consolidated financial statements as of and for the fiscal years ended February 29, 2016 and February 28, 2017, and the effectiveness of internal control over financial reporting as of February 29, 2016 and February 28, 2017, did not contain any adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles.
During the two fiscal years ended February 29, 2016 and February 28, 2017, and the subsequent interim period through August 11, 2017, there were no disagreements (as described in Item 304(a)(1)(iv) of Regulation S-K) with BDO on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of BDO, would have caused it to make reference to the subject matter of the disagreements in connection with its reports on the consolidated financial statements for such years, other than the following. In connection with the interim review for the quarter ended November 30, 2016, BDO reported a disagreement with management regarding the recognition of revenue in connection with certain sales made to international licensees. The Company satisfactorily resolved the matter by recording the adjustment which reduced revenue in the stated period.
The board of directors discussed this matter with BDO. The Company has authorized BDO to respond fully to the inquiries of the successor accountant regarding this matter. In addition, during the two most recent fiscal years and the subsequent interim period through August 11, 2017, there were no reportable events described under Item 304(a)(1)(v) of Regulation S-K.
The Company provided BDO with a copy of this Current Report on Form 8-K prior to its filing with the Securities and Exchange Commission (the “SEC”) and requested that BDO furnish a letter addressed to the SEC stating whether or not BDO agrees with the statements noted above. A copy of the responsive letter, dated August 15, 2017, from BDO is attached hereto as Exhibit 16.1.
(b) Newly Appointed Independent Registered Public Accountant
On August 11, 2017, the Board of Directors appointed Deloitte & Touche LLP (“Deloitte”) as the Company’s independent registered public accounting firm to audit the Company’s financial statements for the year ended February 28, 2018 and the effectiveness of internal control over financial reporting as of February 28, 2018.
During the Company’s two most recent fiscal years and the subsequent interim period through August 11, 2017, neither the Company, nor anyone on its behalf, consulted Deloitte regarding either: (i) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial statements, or the effectiveness of internal control over financial reporting, where either a written report or oral advice was provided to the Company that Deloitte concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a reportable event as described in Item 304(a)(1)(v) of Regulation S-K.
Item 9.01. Financial Statements and Exhibits.
CalAmp Corp. ExhibitEX-16.1 2 calamp31910917-ex161.htm LETTER FROM BDO USA LLP TO THE SECURITIES AND EXCHANGE COMMISSION Tel: 310-557-0300 1888 Century Park East,…To view the full exhibit click here
About CALAMP CORP. (NASDAQ:CAMP)
CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company operates through two business segments: Wireless DataCom and Satellite. The Company’s Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere. The Company’s MRM and M2M solutions collect, monitor and report data and intelligence from remote and mobile assets. The Company delivers products, software services and solutions for energy, government, transportation and automotive vertical markets. The Company’s Satellite segment develops, manufactures and sells direct-broadcast satellite (DBS) outdoor customer premise equipment and whole home video networking devices enabling the delivery of digital and high definition satellite television services. Its satellite products are sold primarily to EchoStar.
