Science Applications International Corporation (NYSE:SAIC) Files An 8-K Changes in Registrant’s Certifying AccountantItem 9.01. Changes in Registrant’s Certifying Accountant.
As previously announced in the Original Form 8-K, on December 12, 2017, the Audit Committee (the “Audit Committee”) of the Board of Directors of the Company approved the engagement of EY as the Company’s independent registered public accounting firm for the Company’s fiscal year ending February 1, 2019. Deloitte continued as the Company’s independent registered public accounting firm for the fiscal year 2018. On March 29, 2018, when the Company filed its 2018 Annual Report with the SEC, Deloitte completed its audit of the Company’s consolidated financial statements for such fiscal year, and the Company’s retention of Deloitte as its independent registered public accounting firm with respect to the audit of Company’s consolidated financial statements ended as of that date.
Deloitte’s reports on the financial statements of the Company for the year ended February 2, 2018, and February 3, 2017 did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles. During the years ended February 2, 2018 and February 3, 2017, there were no disagreements between the Company and Deloitte on any matter of accounting principles or practices, financial statement disclosure, or auditing scope procedures, which disagreements, if not resolved to the satisfaction of Deloitte, would have caused Deloitte to make reference to the subject matter of the disagreements in connection with its report.
During the year ended February 2, 2018, subsequent to the Original Form 8-K, there were reportable events within the meaning set forth in Item 304(a)(1)(v) of Regulation S-K under the Securities Act of 1933. As disclosed in the Company’s 2018 Annual Report on Form 10-K, the Company and Deloitte each concluded that the Company did not maintain effective internal control over financial reporting as of February 2, 2018, because of a material weakness in our control environment related to the training and awareness of contractual requirements related to multi-customer funding sources. As a result, Deloitte expressed an adverse opinion on the Company’s internal control over financial reporting for the year ended February 2, 2018.
The Company has requested that Deloitte furnish a letter addressed to the SEC stating whether or not it agrees with the above statements. A copy of Deloitte’s letter to the SEC, dated March 30, 2018, is filed as Exhibit 16.1 to this Current Report on Form 8-K.
During the Company’s fiscal years ended February 2, 2018 and February 3, 2017 and the subsequent interim period through March 29, 2018, neither the Company nor anyone on its behalf has consulted with EY regarding: (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, and neither a written report nor oral advice was provided to the Company that EY concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue; (ii) any matter that was the subject of a disagreement within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions; or (iii) any “reportable event” within the meaning of Item 304(a)(1)(v) of Regulation S-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit Number |
Description of Exhibit |
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Letter from Deloitte & Touche LLP to the Securities and Exchange Commission dated March 30, 2018. |
Science Applications International Corp ExhibitEX-16.1 2 exhibit161.htm LETTER FROM DELOITTE & TOUCHE Exhibit Exhibit 16.1March 30,…To view the full exhibit click here
About Science Applications International Corporation (NYSE:SAIC)
Science Applications International Corporation (SAIC) is a provider of technical, engineering and enterprise information technology (IT) services. The Company provides its services primarily to the United States Government, including the Department of Defense (DoD), the intelligence community and federal civilian agencies. The Company provides engineering, systems integration and information technology offerings for government projects, and offers a range of services with a targeted emphasis on higher-end, differentiated technology services. The Company’s offerings include engineering; technology and equipment platform integration; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services, and end-to-end services spanning the design, development, integration, deployment, management and operations, sustainment and security of its customers’ entire IT infrastructure.
