Item 4.01 | Changes in Registrant’s Certifying Accountant. |
(b) | New independent registered public accounting firm |
As Innospec Inc. (the “Company”) reported on its Current Report onForm 8-K dated April 11, 2019, KPMG LLP notified the Company of its intention to resign as the Company’s independent registered public accounting firm in advance of the audit for the year ending December 31, 2019.
On May 24, 2019, the Audit Committee of the Company’s Board of Directors (the “Audit Committee”) approved the engagement of PricewaterhouseCoopers LLP (“PwC”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2019 and to provide reviews of the Company’s quarterly reporting for such fiscal year (other than for the quarter ended March 31, 2019).
During Innospec’s two most recent fiscal years ended December 31, 2018 and the subsequent interim period through May 24, 2019, neither the Company nor anyone on its behalf consulted PwC, except for the item below, regarding 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 consolidated financial statements, and no written report or oral advice was provided to the Company that PwC 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 the subject of a disagreement or reportable event as defined in Item 304(a)(1)(iv) of RegulationS-K and Item 304(a)(1)(v) respectively.
During the fiscal year ended December 31, 2017, the Company consulted with PwC on the valuation services in connection with the purchase price allocation of an acquisition by the Company.
In approving the selection of PwC as the Company’s independent registered public accounting firm for the year ended December 31, 2019, the Audit Committee considered existing and prior relationships between the Company and PwC and engaged in a dialogue with PwC regarding auditor independence issues. The Audit Committee determined that it was not aware of any relationships that could reasonably be expected to impact the objectivity or independence of PwC in performing audit services for the Company.
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