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HMNF > SEC Filings for HMNF > Form 8-K/A on 19-Jun-2014All Recent SEC Filings

Show all filings for HMN FINANCIAL INC

Form 8-K/A for HMN FINANCIAL INC


19-Jun-2014

Changes in Registrant's Certifying Accountant, Financial Statements and Exhib


Item 4.01 Changes in Registrant's Certifying Accountant.

KPMG LLP ("KPMG") was previously the principal accountants for the Company. On May 2, 2014, the Audit Committee of the Board of Directors of the Company decided to move forward with a change in its accountants, subject to obtaining an acceptable engagement letter with CliftonLarsonAllen LLP. The Company communicated the Audit Committee's decision to KPMG on that same date. On May 9, 2014, KPMG confirmed its determination that the client-auditor relationship between the Company and KPMG had ceased. A copy of KPMG's letter, dated May 9, 2014, is filed as Exhibit 16.1 to this Current Report on Form 8-K. The decision to change accountants was approved by the Audit Committee of the Board of Directors of the Company.

KPMG's report on the Company's consolidated financial statements for the years ended December 31, 2013 and 2012 did not contain an adverse opinion or a disclaimer of opinion, nor was any such report qualified or modified as to uncertainty, audit scope, or accounting principles.

During the two most recent fiscal years ended December 31, 2013 and 2012 and the interim period through May 9, 2014:

there were not any disagreements with KPMG on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement(s), if not resolved to the satisfaction of KPMG, would have caused it to make reference to the subject matter of the disagreement(s) in connection with its report.

there were no reportable events.

KPMG did not advise the Company that:

o internal controls necessary for the Company to develop reliable financial statements did not exist;

o information had come to KPMG's attention that led it to no longer be able to rely on management's representations or that made KPMG unwilling to be associated with the financial statements prepared by management;

o KPMG needed to (but did not, due to cessation of the relationship with KPMG or for any other reason) expand significantly the scope of its audit or that information had come to KPMG's attention during such period, that if further investigated, might have (a) materially impacted the fairness or reliability of either a previously issued audit report, the underlying financial statements, or the financial statements issued or to be issued covering the fiscal period subsequent to the date of the most recent financial statements covered by an audit report, or (b) caused it to be unwilling to rely on management's representations or be associated with the Company's financial statements; or

o information had come to KPMG's attention that it concluded materially impacted the fairness or reliability of either (a) a previously issued audit report or the underlying financial statements, or (b) the financial statements issued or to be issued covering the fiscal period(s) subsequent to the date of the most recent financial statements covered by an audit report; and, due to cessation of the relationship with KPMG or for any other reason, the issue had not been resolved to KPMG's satisfaction.

The Company provided KPMG with a copy of this Current Report on Form 8-K and requested that KPMG furnish the Company with a letter addressed to the U.S. Securities and Exchange Commission stating whether it agreed with the statements made by the Company in this Current Report. A copy of KPMG's letter, dated June 19, 2014, is filed as Exhibit 16.2 to this Current Report on Form 8-K.




Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number Description
16.1 Letter of KPMG LLP dated May 9, 2014
16.2 Letter of KPMG LLP dated June 19, 2014


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