Transcat Inc. filed SEC Form 8-K: Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits
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Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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| Item 4.01 | Changes in Registrant’s Certifying Accountant. |
The Audit Committee (the “Committee”) of the Board of Directors (the “Board”) of Transcat, Inc. (the “Company”) approved a change to the Company’s independent registered public accounting firm for the fiscal year ending March 28, 2026 and, on February 6, 2025, the Company notified Freed Maxick P.C. (f/k/a Freed Maxick CPAs, P.C., “Freed Maxick”), which is currently serving as the Company’s independent registered public accounting firm, of its dismissal effective immediately following Freed Maxick’s completion of the audit of the Company’s consolidated financial statements as of and for the fiscal year ending March 29, 2025 and the issuance of their report thereon. Upon completion of Freed Maxick’s services, the Company will file an amendment to this Current Report on Form 8-K with the specific date of dismissal and an update to the disclosures required by Item 304(a) of Regulation S-K through that date.
During the fiscal years ended March 30, 2024 and March 25, 2023, and the subsequent interim period through the date of this Current Report on Form 8-K, there were no: (1) “disagreements” (within the meaning of Item 304(a)(1)(iv) of Regulation S-K and related instructions) with Freed Maxick on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements if not resolved to Freed Maxick’s satisfaction would have caused them to make reference in connection with their opinion to the subject matter of the disagreement; or (2) “reportable events” (as defined in Item 304(a)(1)(v) of Regulation S-K).
The audit reports of Freed Maxick on the consolidated financial statements of the Company as of and for the fiscal years ended March 30, 2024 and March 25, 2023, 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. The audit reports of Freed Maxick on the effectiveness of internal control over financial reporting as of March 30, 2024 and March 25, 2023, did not contain an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles.
The Company provided Freed Maxick with a copy of the foregoing disclosure and requested that Freed Maxick furnish a letter addressed to the U.S. Securities and Exchange Commission (the “SEC”) stating whether Freed Maxick agrees with the above statements. A copy of the letter from Freed Maxick is filed as Exhibit 16.1.
On February 10, 2025, the Company engaged Deloitte & Touche LLP (“Deloitte”) as the Company’s independent registered public accounting firm for the fiscal year ending March 28, 2026, beginning with the review of the Company’s consolidated financial statements for the quarter ending June 28, 2025.
During the Company’s fiscal years ended March 30, 2024 and March 25, 2023, and the subsequent interim period through the date of this Current Report on Form 8-K, neither the Company nor anyone acting on its behalf consulted Deloitte with respect to either: (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 Company’s financial statements, and no written report was provided to the Company or oral advice was provided that Deloitte 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 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.
| Exhibit No. | Description | |
| 16.1 | Letter from Freed Maxick P.C. dated February 12, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TRANSCAT, INC. | ||
| Dated: February 12, 2025 | By: | /s/ Thomas L. Barbato |
| Name: | Thomas L. Barbato | |
| Title: | Chief Financial Officer |