September 14, 2011
Del Toro Silver Corp. Files SEC form 8-K, Change in Registrant's Certifying Accountant available on EDGAR
Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant
(a) Previous independent registered public accounting firm
(i) On September 7, 2011, Del Toro Silver Corp. (the "Company") formally informed MacKay LLP of their dismissal as the Company's independent registered public accounting firm.
(ii) The reports of MacKay LLP on the Company's consolidated financial statements as of and for the fiscal years ended October 31, 2010 and 2009 contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principle except to indicate that there was substantial doubt about the Company ability to continue as a going concern.
(iii) The Company's Board of Directors participated in and approved the decision to change independent registered public accounting firms.
(iv) During the fiscal years ended October 31, 2010 and 2009, and through September 13, 2011, there have been no disagreements with MacKay LLP on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements if not resolved to the satisfaction of MacKay LLP would have caused them to make reference thereto in connection with their report on the financial statements for such years.
(v) The Company has requested that MacKay LLP furnish it with a letter addressed to the SEC stating whether or not it agrees with the above statements. Once the letter is received, the company will file it as an exhibit to an amended version of this Current Report on Form 8-K.
(b) New independent registered public accounting firm
(i) On September 7, 2011, the Company engaged Saturna Group Chartered Accountants, LLP as its new independent registered public accounting firm. During the two most recent fiscal years and through September 13, 2011, the Company had not consulted with Saturna Group Chartered Accountants, LLP PC regarding any of the following:
(ii) The application of accounting principles to a specific transaction, either completed or proposed;
(iii) The type of audit opinion that might be rendered on the Company's consolidated financial statements, and none of the following was provided to the Company: (a) a written report, or (b) oral advice that Saturna Group Chartered Accountants, LLP concluded was an important factor considered by the Company in reaching a decision as to accounting, auditing or financial reporting issue; or
(iv) Any matter that was subject of a disagreement, as that term is defined in Item 304(a)(1)(iv) of Regulation S-K.