Clearfield Dismisses Baker Tilly as Independent Registered Public Accounting Firm

On November 18, 2024, Clearfield, Inc. (NASDAQ: CLFD) made a significant change in its choice of independent registered public accounting firm. The Audit Committee of Clearfield, Inc. conducted a thorough evaluation process to select the company’s independent registered public accounting firm for the fiscal year ending September 30, 2025. Following this evaluation, on November 18, 2024, Baker Tilly, US, LLP, was dismissed as the independent registered public accounting firm for Clearfield, Inc., after having served in this capacity since 2013.

There were no adverse opinions, disclaimers of opinion, or modifications related to audit scope, uncertainty, or accounting principles in Baker Tilly’s audit reports on Clearfield, Inc.’s consolidated financial statements for the fiscal years ended September 30, 2023, and 2024. Furthermore, there were no disagreements on accounting principles or practices, financial disclosure, or auditing scope and procedures between Clearfield, Inc. and Baker Tilly during the specified periods, nor were there any reportable events.

Clearfield, Inc. notified Baker Tilly of the aforementioned dismissal and requested a letter addressing the agreement with the disclosure provided. Baker Tilly furnished a letter, dated November 21, 2024, which is available as Exhibit 16.1 in the Form 8-K.

Concurrently, on November 18, 2024, Clearfield, Inc.’s Audit Committee approved the engagement of Deloitte & Touche LLP as the new independent registered public accounting firm, effective from the same date. Deloitte & Touche LLP’s engagement did not involve consultations in the past two fiscal years on specific transactions’ accounting treatment or the form of audit opinions on Clearfield, Inc.’s financial statements. No disagreements or reportable events occurred with Deloitte & Touche LLP during the specified periods.

The changes in Clearfield, Inc.’s certifying accountant were reported in a Form 8-K filing submitted to the Securities and Exchange Commission. Exhibit 16.1 includes the letter from the former accounting firm, Baker Tilly, and all relevant information regarding the engagement of Deloitte & Touche LLP.

This information is in compliance with the company’s obligations under the Securities Exchange Act of 1934 and has been duly signed by Cheryl Beranek, Chief Executive Officer of Clearfield, Inc., on November 21, 2024.

The attached Exhibit 99.1 provides additional details pertinent to the accounting changes made by Clearfield, Inc.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Clearfield’s 8K filing here.

Clearfield Company Profile

Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.