PFBX Peoples Financial Corporation (QX)

Item 4.01 Changes in Registrant’s Certifying Accountant

 

As previously announced in the Original Form 8-K, the Board of Directors of the Company approved the engagement of P&N as the Company’s independent registered public accounting firm for the Company’s fiscal year ending December 31, 2023. Wipfli continued as the Company’s independent registered public accounting firm for the year ending December 31, 2022. On March 15, 2023, when the Company filed its 2022 Annual Report for the fiscal year ended December 31, 2022 with the SEC, Wipfli completed its audit of the Company’s consolidated financial statements for such fiscal year, and the Company’s retention of Wipfli as our independent registered public accounting firm with respect to the audit of Company’s consolidated U.S. GAAP financial statements ended as of that date.

 

Wipfli’s reports on the Company’s consolidated financial statements as of and for the fiscal years ended December 31, 2021 and 2022 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, 2021 and 2022, and the subsequent interim period through March 15, 2023, there were: (i) no disagreements within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions between the Company and Wipfli on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to Wipfli’s satisfaction, would have caused Wipfli to make reference thereto in their reports; and (ii) no “reportable events” within the meaning of Item 304(a)(1)(v) of Regulation S-K.

 

The Company has requested that Wipfli furnish a letter addressed to the SEC stating whether or not it agrees with the above statements. A copy of Wipfli’s letter, dated March 21, 2023, is filed as Exhibit 16.1 to this Form 8-K/A.

 

During the fiscal years ended December 31, 2021 and 2022 and the subsequent interim period through March 15, 2023, neither the Company nor anyone on its behalf has consulted with P&N 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 or oral advice was provided to the Company that P&N 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.