Virtus Investment Partners, Inc. (NASDAQ:VRTS) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01Changes in Registrant's Certifying Accountant
The Audit Committee (the “Audit Committee”) of the Board of Directors of Virtus Investment Partners, Inc. (the “Company”) recently conducted a comprehensive, competitive selection process to determine the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2018. On March 26, 2018, the Audit Committee approved the appointment of Deloitte & Touche LLP (“Deloitte”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2018, subject to completion of Deloitte’s standard client acceptance procedures and execution of an engagement letter.
(a) Previous Independent Registered Public Accounting Firm
On March 26, 2018, the Company dismissed its independent registered public accounting firm, PricewaterhouseCoopers LLP (“PwC”). The decision to dismiss PwC was approved by the Company's Audit Committee.
PwC’s reports on the Company’s consolidated financial statements as of and for the fiscal years ended December 31, 2016 and 2017 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. During the fiscal years ended December 31, 2016 and 2017, and the subsequent interim periods through March 26, 2018, there were: (i) no disagreements between the Company and PwC on any matters of accounting principles or practices, financial statement disclosure or auditing scope or procedure within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions, which, if not resolved to PwC’s satisfaction, would have caused PwC to make reference to the subject matter of the disagreement in connection with its report; and (ii) no reportable events within the meaning of Item 304(a)(1)(v) of Regulation S-K.
The Company provided PwC a copy of this Form 8-K prior to filing with the Securities and Exchange Commission (“SEC”) and requested that PwC furnish the Company with a letter addressed to the SEC stating whether or not it agrees with the statements in the immediately preceding paragraph. A copy of PwC’s letter, dated March 30, 2018, is filed as Exhibit 16.1 to this Form 8-K.
(b) New Independent Registered Public Accounting Firm
On March 26, 2018, the Audit Committee approved the appointment of Deloitte as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2018, subject to completion of Deloitte’s standard client acceptance procedures and execution of an engagement letter.
During the fiscal years ended December 31, 2016 and 2017 and the subsequent interim periods through March 26, 2018, neither the Company nor anyone on its behalf consulted with Deloitte 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 by Deloitte that Deloitte 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 9.01Financial Statements and Exhibits.
(d) Exhibits.
VIRTUS INVESTMENT PARTNERS, INC. ExhibitEX-16.1 2 exhibit161-pwcletter.htm EXHIBIT 16.1 PWC LETTER Exhibit Exhibit 16.1March 30,…To view the full exhibit click here
About Virtus Investment Partners, Inc. (NASDAQ:VRTS)
Virtus Investment Partners, Inc. is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts. Its open-end mutual funds are distributed through intermediaries. Its closed-end funds trade on the New York Stock Exchange. Its variable insurance funds are available as investment options in variable annuities and life insurance products distributed by life insurance companies. Separately managed accounts consists of intermediary programs, sponsored and distributed by unaffiliated brokerage firms, and private client accounts, which are offered to the high net-worth clients of its affiliated managers.
