NORTECH SYSTEMS INCORPORATED (NASDAQ:NSYS) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01 Changes in Registrants Certifying Accountant.
(a) Dismissal of Independent Registered Public Accounting Firm
On March16, 2017, the Audit Committee (the Audit Committee) of
the Board of Directors of Nortech Systems Incorporated (the
Company) formally approved the engagement of Baker Tilly Virchow
Krause, LLP (Baker Tilly) as the Companys independent registered
public accounting firm for the fiscal year ending December31,
2017. On March16, 2017, the Company informed RSM US LLP (RSM)
that it was being dismissed as the Companys independent
registered public accounting firm.
The reports of RSM on the Companys audited consolidated financial
statements for the two most recent fiscal years ended December31,
2016 and December31, 2015 did not contain an adverse opinion or a
disclaimer of opinion, nor were they qualified or modified as to
uncertainty, audit scope, or accounting principles. During the
Companys two most recent fiscal years ended December31, 2016 and
December31, 2015, and during the subsequent interim period
preceding RSMs dismissal, there were: (i)no disagreements with
RSM on any matter of accounting principles or practices,
financial statement disclosures, or auditing scope or procedures,
which disagreements, if not resolved to the satisfaction of RSM
would have caused RSM to make reference to the subject matter of
the disagreements in connection with its reports, and (ii)no
reportable events of the type listed in paragraphs (A)through
(D)of Item 304(a)(1)(v)of Regulation S-K.
The Company provided RSM with a copy of this Current Report on
Form8-K prior to its filing with the Securities and Exchange
Commission (SEC) and requested that RSM furnish the Company with
a letter addressed to the SEC stating whether or not RSM agrees
with the above statements. A copy of the letter from RSM dated
March20, 2017 is filed with this Current Report on Form8-K as
Exhibit16.1.
(b) Engagement of New Independent Registered Public Accounting
Firm
As set forth above, concurrent with the decision to dismiss RSM
as the Companys independent registered public accounting firm,
the Audit Committee approved the engagement of Baker Tilly as the
Companys new independent registered public accounting firm,
subject to completion of its standard client acceptance
procedures.
During the Companys two most recent fiscal years ended
December31, 2016 and December31, 2015, and during the subsequent
interim period preceding Baker Tillys engagement, neither the
Company, nor anyone on its behalf, consulted Baker Tilly with
respect to: (i)the application of accounting principles to a
specified transaction, either completed or proposed, or the type
of audit opinion that might be rendered on the Companys
consolidated financial statements, and neither a written report
was provided to the Company nor oral advice was provided to the
Company that Baker Tilly 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.
(d) Exhibits
ExhibitNo. |
|
Description |
16.1 |
Letter of RSM US LLP to the Securities and Exchange |
About NORTECH SYSTEMS INCORPORATED (NASDAQ:NSYS)
Nortech Systems Incorporated is an electronic manufacturing services (EMS) company. The Company offers a range of value-added engineering, technical and manufacturing services and support, including project management, design, testing, prototyping, manufacturing, supply chain management and post-market services. The Company’s segment is Contract Manufacturing. The Company’s manufacturing and engineering services include medical devices, printed circuit board assemblies, wire and cable assemblies, and electromechanical assemblies. The Company’s manufacturing facilities are located at Bemidji, Blue Earth, Merrifield, Eden Prairie, Milaca and Mankato in Minnesota; Augusta in Wisconsin; Monterrey in Mexico, and Suzhou in China. The Company serves approximately three markets within the EMS industry, such as Aerospace and Defense, Medical/Life Sciences and the Industrial market, which includes industrial equipment, transportation, vision, agriculture, oil and gas. NORTECH SYSTEMS INCORPORATED (NASDAQ:NSYS) Recent Trading Information
NORTECH SYSTEMS INCORPORATED (NASDAQ:NSYS) closed its last trading session up +0.04 at 3.51 with 20,665 shares trading hands.