Emclaire Financial Corp (NASDAQ:EMCF) Files An 8-K Changes in Registrant’s Certifying Accountant
ITEM 4.01 Changes in Registrant’s Certifying Accountant.
Emclaire Financial Corp (NASDAQ:EMCF) Files An 8-K Changes in Registrant’s Certifying Accountant
On January 20, 2021 (the “Notice Date”), Emclaire Financial Corp (the “Corporation”) notified Crowe LLP (“Crowe”) that it had been dismissed as the Company’s independent registered public accounting firm, effective as of the completion of the audit for the Corporation’s consolidated financial statements for the year ended December 31, 2020. The decision to change the Corporation’s independent registered public accounting firm was approved by the Audit Committee of the Corporation’s Board of Directors.
On the Notice Date, the Company notified BKD, LLP (“BKD”) that it had been selected to serve as the Corporation’s independent registered public accounting firm for the fiscal year ending December 31, 2021. The engagement of BKD is subject to their client acceptance procedures.
Crowe performed audits of the Corporation’s consolidated financial statements for the years ended December 31, 2019 and 2018 and is currently preforming an audit for year ended December 31, 2020. Crowe’s reports did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles.
During the two years ended December 31, 2019, and from December 31, 2019 through the Notice Date, there were no (i) disagreements between the Corporation and Crowe on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to its satisfaction, would have caused Crowe to make reference to the subject matter of such disagreements in connection with its report, or (ii) “reportable events,” as described in Item 304(a)(1)(v) of Regulation S-K promulgated by the Securities and Exchange Commission (the “SEC”) to the Securities Exchange Act of 1934, as amended.
The Corporation furnished Crowe with a copy of this report prior to filing with the SEC and requested that Crowe furnish it with a letter addressed to the SEC stating whether or not it agreed with the statements made by the Corporation in this report insofar as they relate to Crowe’s audit services and engagement as the Corporation’s independent registered public accounting firm. Crowe has furnished a letter addressed to the SEC dated January 26, 2021, a copy of which is attached hereto as Exhibit 16.1.
During the two years ended December 31, 2019 and from December 31, 2019 through engagement of BKD as the Corporation’s independent registered public accounting firm, neither the Corporation nor anyone on its behalf has consulted BKD with respect to any accounting or auditing issues involving the Corporation. In particular, there was no discussion with the Corporation regarding the application of accounting principles to a specified transaction, the type of audit opinion that might be rendered on the financial statements, or any matter that was either the subject of a disagreement, as described in Item 304 of Regulation SK, with Crowe, or a “reportable event” as described in Item 304(a)(1)(v) of the Regulation S-K.
The following exhibit is filed herewith.
EMCLAIRE FINANCIAL CORP Exhibit
EX-16.1 2 exh161ltr….
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EX-16.1 2 exh161ltr….
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About Emclaire Financial Corp (NASDAQ:EMCF)
Emclaire Financial Corp is a financial holding company. The Company provides a range of retail and commercial financial products and services to customers in western Pennsylvania through its subsidiary bank, The Farmers National Bank of Emlenton (the Bank). The Company also provides real estate settlement services through its subsidiary, Emclaire Settlement Services, LLC (the Title Company). The Bank’s primary business consists of attracting deposits from the public and investing the funds in real estate loans secured by liens on residential and commercial property, consumer loans, commercial business loans, marketable securities and interest-earning deposits. It offers a range of deposit account products to both consumer and commercial deposit customers, including time deposits, noninterest bearing and interest bearing demand deposit accounts, savings deposits and money market accounts. The Bank operates through a network of approximately 10 retail branch offices.