ENTRAVISION COMMUNICATIONS CORPORATION (NYSE:EVC) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01 Change in Registrant’s Certifying Accountant.
On May 10, 2018, the Audit Committee of the Board of Directors (the “Audit Committee”) of Entravision Communications Corporation (the “Company”) dismissed Grant Thornton LLP (“Grant Thornton”) as the Company’s independent registered public accounting firm.
The reports of Grant Thornton on the consolidated financial statements of the Company as of and for the years ended December 31, 2016 and 2017 did not contain an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principle. The audit report of Grant Thornton on the effectiveness of our internal control over financial reporting as of and for the year ended December 31, 2017 contained an adverse opinion on our internal control over financial reporting due to a material weakness with respect to insufficient accounting resources and personnel to ensure proper application of accounting principles generally accepted in the United States of America (“U.S. GAAP”) and to effectively design and execute process level controls around certain complex or non-recurring transactions.
During the years ended December 31, 2016 and 2017 and through May 10, 2018, there were (i) no disagreements with Grant Thornton 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 Grant Thornton, would have caused Grant Thornton to make reference to the subject matter of the disagreement in its reports on the Company’s consolidated financial statements for such years and (ii) no “reportable events” (as such term is defined in Item 304(a)(1)(v) of Regulation S-K), except for the material weakness in internal control over financial reporting reported in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017 with respect to insufficient accounting resources and personnel to ensure proper application of U.S. GAAP and to effectively design and execute process level controls around certain complex or non-recurring transactions. The Audit Committee has discussed the subject matter of the foregoing material weakness with Grant Thornton, and the Company has authorized Grant Thornton to respond fully to any inquiries concerning such matters made by the Company’s next independent registered public accounting firm.
The Company has provided Grant Thornton with a copy of the disclosures it is making herein and has requested that Grant Thornton furnish it with a letter addressed to the Securities and Exchange Commission (the “SEC”) stating whether or not Grant Thornton agrees with the above statements. A copy of such letter is filed herewith as Exhibit 16.1.
While the Company has not yet formally engaged a new independent registered public accounting firm as of the date of this Report, the Audit Committee has approved the appointment of a new independent registered public accounting firm, and the Company is working on completing the engagement process. The Company will disclose its engagement of a new independent registered public accounting firm once the process has been completed and as required by the SEC’s rules and regulations.
Item 9.01 Financial Statements and Exhibits.
ENTRAVISION COMMUNICATIONS CORP ExhibitEX-16.1 2 evc-ex161_38.htm EX-16.1 evc-ex161_38.htm Exhibit 16.1 May 16,…To view the full exhibit click
About ENTRAVISION COMMUNICATIONS CORPORATION (NYSE:EVC)
Entravision Communications Corporation is a media company. The Company reaches and engages Hispanics in the United States and certain border markets of Mexico across media channels and advertising platforms. The Company operates through three segments: television broadcasting, radio broadcasting and digital media. As of December 31, 2016, the Company owned and operated 54 television stations located primarily in California, Colorado, Connecticut, Florida, Kansas, Massachusetts, Nevada, New Mexico, Texas and Washington, District of Columbia. It owns and operates Spanish-language radio stations in the United States. As of December 31, 2016, its radio stations consisted of 38 frequency modulation (FM) and 11 amplitude modulation (AM) stations located in Arizona, California, Colorado, Florida, Nevada, New Mexico and Texas. The digital media segment provides digital advertising solutions that allow advertisers to reach online Hispanic audiences throughout the United States and Mexico. ENTRAVISION COMMUNICATIONS CORPORATION (NYSE:EVC) Recent Trading Information
ENTRAVISION COMMUNICATIONS CORPORATION (NYSE:EVC) closed its last trading session up +0.20 at 4.30 with shares trading hands.