Item 4.01 Changes in Registrants Certifying Accountant.
The Audit Committee of the Board of Directors (the Audit Committee) of AeroVironment, Inc. (the Company), with the assistance of the Companys management, conducted a competitive process to select a firm to serve as the Companys independent registered public accounting firm for the fiscal year ending April 30, 2020. The Audit Committee invited several firms to participate in this process. As a result of this process, on April 16, 2019 the Audit Committee determined not to reappoint Ernst & Young LLP (EY) as independent registered public accounting firm of the Company effective for the fiscal year ended April 30, 2020.
EY, which was informed of the Companys decision on April 16, 2019, will conduct and complete the audit of the Companys consolidated financial statements for the fiscal year ending April 30, 2019. The Companys 2019 fiscal year has not yet ended and, accordingly, EYs audit report on the consolidated financial statements as of and for the fiscal year ended April 30, 2019 has not been issued. In connection with the audits of the Companys consolidated financial statements for each of the two fiscal years ended April 30, 2018 and 2017 and in the subsequent interim period through April 16, 2019, there were no disagreements with EY on any matters of accounting principles or practices, financial statement disclosure, or auditing scope and procedures, which, if not resolved to the satisfaction of EY, would have caused EY to make reference to the matter in their report. There were no reportable events as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
The Company provided EY with a copy of the disclosures it is making in this Current Report on Form 8-K prior to the time this report was filed with the Securities and Exchange Commission (the SEC). The Company has requested EY to furnish it a letter addressed to the SEC stating whether it agrees with the above statements. A copy of that letter, dated April 22, 2019, is attached as Exhibit 16.1 to this Form 8-K.
As a result of this process, on April 16, 2019, the Audit Committee approved the appointment of Deloitte & Touche LLP (Deloitte) as the Companys independent registered public accounting firm for the fiscal year ending April 30, 2020 effective May 1, 2019. Deloitte will perform the review of the Companys interim quarterly period ending July 27, 2019. During the fiscal years ended April 30, 2018 and 2017, and the subsequent interim period through April 16, 2019, neither the Company nor anyone acting on its behalf has consulted with Deloitte on any of the matters or events set forth in Item 304(a)(2)(i) or 304(a)(2)(ii) of Regulation S-K.
The Companys stockholders entitled to vote at the Companys 2019 annual meeting of stockholders will be asked to ratify the selection of Deloitte as the Companys independent registered public accounting firm for the fiscal year ending April 30, 2020.