Item 4.01 Change of Independent Registered Public Accounting Firm
(a)
Dismissal of Independent Registered Public Accounting Firm
As previously reported in the Current Report on Form 8-K, dated May 5, 2016, New York & Company, Inc. (the Company) dismissed Ernst & Young LLP as its independent registered public accounting firm (after approval of the Companys board of directors, as recommended by the Companys audit committee) effective immediately following the filing of the Companys Quarterly Report on Form 10-Q for the three months ended April 30, 2016. On May 27, 2016, the Company filed its Quarterly Report on Form 10-Q for the three months ended April 30, 2016, and Ernst & Young LLPs role as the Companys independent registered public accounting firm ended.
Ernst & Young LLPs reports on the Companys consolidated financial statements as of and for the fiscal years ended January 30, 2016 and January 31, 2015 did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles.
During the Companys two most recent fiscal years ended January 30, 2016 and January 31, 2015 and the subsequent interim period through May 27, 2016, (i) there were no disagreements within the meaning of Item 304(a)(1)(iv) of Regulation S-K, between the Company and Ernst & Young LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, any of which that, if not resolved to Ernst & Young LLPs satisfaction, would have caused Ernst & Young LLP to make reference to the subject matter of any such disagreement in connection with its reports for such years and interim period, and (ii) there were no reportable events within the meaning of Item 304(a)(1)(v) of Regulation S-K.
The Company provided Ernst & Young LLP with a copy of the above disclosures and requested that Ernst & Young LLP furnish a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made herein. A copy of Ernst & Young LLPs letter dated June 3, 2016 is filed as Exhibit 16.1 to this Current Report on Form 8-K/A.
(b)
Newly Engaged Independent Registered Public Accounting Firm
As previously reported in the Current Report on Form 8-K, dated May 5, 2016, the Company engaged BDO USA, LLP as the Companys new independent registered public accounting firm for the fiscal year ending January 28, 2017 (after approval of the Companys board of directors, as recommended by the Companys audit committee). This engagement was effective immediately following the filing of the Companys Quarterly Report on Form 10-Q for the three months ended April 30, 2016.
During the Companys two most recent fiscal years ended January 30, 2016 and January 31, 2015 and the subsequent interim period preceding the engagement of BDO USA, LLP, neither the Company nor anyone on its behalf has consulted with BDO USA, LLP regarding (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 Companys financial statements, and neither a written report nor oral advice was provided to the Company that BDO USA, LLP concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue, (ii) any matter that was the subject of a disagreement within the meaning of Item 304(a)(1)(iv) of Regulation S-K, or (iii) any reportable event within the meaning of Item 304(a)(1)(v) of Regulation S-K.