Item 4.01. Changes in Registrant’s Certifying Accountant.
On May 2, 2019, Midwest Holding Inc. (the “
Company
”) (i) dismissed RSM US LLP (“
RSM US
”) as the Company’s independent registered public accounting firm and (ii) appointed Mazars USA LLP (“
Mazars USA
”), effective immediately upon the completion of Mazars USA’s client acceptance procedures, which occurred on May 5, 2019, to serve as the Company’s new independent registered public accounting firm to audit the Company’s financial statements as of and for the fiscal year ending December 31, 2019. The Audit Committee of the Board of Directors of Company, pursuant to its charter, exercised its authority to approve RSM US’s dismissal and Mazars USA’s appointment as the Company’s independent registered public accounting firm.
The reports of RSM US on the financial statements of the Company as of and for the fiscal years ended December 31, 2018 and 2017, did not contain any adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles. During the fiscal years ended December 31, 2018 and 2017, and the interim period through May 2, 2019, (i) the Company had no disagreements with RSM US on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to RSM US’s satisfaction, would have caused RSM US to make reference to the subject matter of such disagreements in its reports on the financial statements of the Company for such time period, and (ii) there were no reportable events of the type described in Item 304(a)(1)(v) of Regulation S-K.
The Company has provided RSM US with a copy of the foregoing disclosure and requested that RSM US furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether RSM US agrees with the statements above concerning RSM US. A copy of RSM US’s letter, dated May
7
, 2019, is attached hereto as Exhibit 16.1.
During the fiscal years ended December 31, 2018 and 2017, and the interim period through May 2, 2019, the Company did not consult Mazars USA with respect to 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 financial statements, and no written report or oral advice was provided to the Company by Mazars USA that Mazars USA 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 that term is described in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K, or a reportable event, as that term is described in Item 304(a)(1)(v) of Regulation S-K.