Item 4.01 Changes in Registrant’s Certifying Accountant
The Audit Committee (the “Audit Committee”) of the Board of Directors of QuickLogic Corporation (the “Company”) has performed an evaluation of independent registered public accounting firms. As a result of this process, the Audit Committee approved the dismissal of BDO USA, LLP ("BDO") and the engagement of Moss Adams LLP (“Moss Adams”) as the Company’s independent registered public accounting firm for fiscal year 2016. On August 19, 2016, the Company engaged Moss Adams.
(a) Dismissal of Independent Registered Public Accounting Firm
On August 19, 2016, the Company informed BDO that it had been dismissed as the Company’s independent registered public accounting firm based on the Audit Committee’s decision.
The reports of BDO on the consolidated financial statements for the two most recent fiscal years ended January 3, 2016 and December 28, 2014 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. During the Company’s two most recent fiscal years ended January 3, 2016 and December 28, 2014, and during the subsequent interim period preceding BDO’s dismissal, there were: (i) no disagreements with BDO on any matter of accounting principles or practices, financial statement disclosures, or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of BDO would have caused BDO to make reference to the subject matter of the disagreements in connection with its reports, and (ii) no reportable events of the type listed in paragraphs (A) through (D) of Item 304(a)(1)(v) of Regulation S-K.
The Company provided BDO with a copy of this Current Report on Form 8-K prior to its filing with the Securities and Exchange Commission (“SEC”) and requested that BDO furnish the Company with a letter addressed to the SEC stating whether or not BDO agrees with the above statements. A copy of the letter from BDO dated August 19, 2016 is filed with this Current Report on Form 8-K as Exhibit 16.1.
(b) Engagement of New Independent Registered Public Accounting Firm
The Audit Committee approved the engagement of Moss Adams as the Company’s new independent registered public accounting firm.
During the Company’s two most recent fiscal years ended January 3, 2016 and December 28, 2014, and during the subsequent interim period preceding Moss Adams’s engagement, neither the Company, nor anyone on its behalf, has consulted Moss Adams with respect to: (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 neither a written report was provided to the Company nor oral advice was provided to the Company that Moss Adams 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 the related instructions) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).