News Column

NATIONAL WESTERN LIFE INSURANCE CO FILES (8-K) Disclosing Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits

June 5, 2014



Item 4.01 Change in Registrant's Certifying Accountant.

Under a filing on Form 8-K dated January 16, 2014, National Western Life Insurance Company (the "Company") reported that it had notified KPMG LLP ("KPMG") that the Company would not be renewing the engagement of KPMG as independent accountants beginning with the audit of its consolidated financial statements for the year ending December 31, 2014. This filing further reported that KPMG's dismissal would be effective with the Company's filing of its Form 10-K for the year ended December 31, 2013 and issuance of the statutory financial statement audit reports for the same period.

The Company filed its Form 10-K for the year ended December 31, 2013 on March 17, 2014 (and Form10-K/A on March 19, 2014) which included KPMG's audit reports thereon. On May 30, 2014, KPMG issued its audit report on the Company's statutory financial statements for the year ended December 31, 2013. Effective with the issuance of its audit report on the Company's statutory financial statements for the year ended December 31, 2013, KPMG was dismissed as independent accountants of the Company.

The audit reports of KPMG on the consolidated balance sheets of the Company as of December 31, 2013 and 2012, and the related consolidated statements of earnings, comprehensive income (loss), stockholders' equity, and cash flows for each of the years in the three-year period ended December 31, 2013 and the effectiveness of internal control over financial reporting as of December 31, 2013 did not contain an adverse opinion or a disclaimer of opinion, nor were such reports qualified or modified as to uncertainty, audit scope or accounting principles. During the years ended December 31, 2013, 2012 and 2011, and during the period December 31, 2013 through May 30, 2014 (the date of dismissal), there were no disagreements with KPMG on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures that, if not resolved to the satisfaction of KPMG, would have caused them to make reference to the subject matter in its audit reports. For the years ended December 31, 2013, 2012 and 2011, and through the date of this Form 8-K, there were no "reportable events" as that term is described in Item 304(a)(1)(v) of Regulation S-K.

The Company provided KPMG with a copy of this report on Form 8-K prior to its filing with the Securities and Exchange Commission and requested KPMG to furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the above statements and, if it does not agree, stating the respects in which it does not agree. A copy of the letter furnished by KPMG is attached as Exhibit 16.1 hereto.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

16.1 Letter from KPMG LLP dated June 5, 2014

--------------------------------------------------------------------------------


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Edgar Glimpses


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters