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DHIL > SEC Filings for DHIL > Form 8-K on 30-Oct-2012All Recent SEC Filings

Show all filings for DIAMOND HILL INVESTMENT GROUP INC

Form 8-K for DIAMOND HILL INVESTMENT GROUP INC


30-Oct-2012

Changes in Registrant's Certifying Accountant


Item 4.01. Changes in Registrant's Certifying Accountant

(a), (b) The Audit Committee of the Board of Directors (the "Audit Committee") of Diamond Hill Investment Group, Inc. (the "Company") recently conducted a comprehensive process to determine the Company's independent registered public accounting firm for the Company's 2012 fiscal year. The Audit Committee invited eight accounting firms to participate in this process, including Plante & Moran PLLC ("Plante & Moran"), the Company's independent registered public accounting firm since November 2005. As a result of this process and following careful deliberation, on October 24, 2012, the Audit Committee approved the engagement of KPMG LLP ("KPMG"), as the Company's independent registered public accounting firm for the Company's fiscal year ending December 31, 2012. On October 25, 2012, Plante & Moran was informed that it had been dismissed as the Company's independent registered public accounting firm. KPMG's engagement and Plante & Moran's dismissal are effective upon the filing of the Company's September 30, 2012 Form 10-Q, which is expected to be filed on or about Friday, November 2, 2012.

Plante & Moran's reports on the Company's consolidated financial statements for the fiscal years ended December 31, 2010 and December 31, 2011 did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles. Plante & Moran's reports on the effectiveness of internal control over financial reporting as of December 31, 2010 and 2011 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, 2010 and December 31, 2011 and in the subsequent interim period through the date of this Current Report on Form 8-K (the "Form 8-K"), there were (i) no disagreements between the Company and Plante & Moran on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which if not resolved to Plante & Moran's satisfaction, would have caused Plante & Moran to make reference to the subject matter of the disagreement in connection with its reports for such years and interim period, and (ii) no "reportable events" within the meaning of Item 304(a)(1)(v) of Regulation S-K.

During the fiscal years ended December 31, 2010 and December 31, 2011 and in the subsequent interim period through the date of this Form 8-K, neither the Company nor anyone on its behalf has consulted with KPMG regarding (i) the application of accounting principles to a specified transaction, either completed or proposed, (ii) the type of audit opinion that might be rendered on the Company's financial statements, (iii) any matter that was the subject of a "disagreement" within the meaning of Item 304(a)(1)(iv) of Regulation S-K, or (iv) any "reportable event" within the meaning of Item 304(a)(1)(v) of Regulation S-K.

In accordance with Item 304(a)(3) of Regulation S-K, the Company has provided Plante & Moran with a copy of the disclosures the Company is making in this Form 8-K prior to the time the Form 8-K was filed with the Securities and Exchange Commission (the "SEC"). The Company requested that Plante & Moran furnish the Company with a letter addressed to the SEC stating whether or not Plante & Moran agrees with the statements made herein. A copy of such letter, dated October 29, 2012, is filed as Exhibit 16.1 hereto.

Item 9.01   Financial Statements and Exhibits
---------   ---------------------------------------------

(c) Exhibits

Exhibit No.   Document
-----------   --------
16.1          Letter from Plante & Moran PLLC to the Securities and Exchange
              Commission dated October 29, 2012.

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