Skechers USA, Inc. announced that its independent registered public accounting firm, BDO USA, LLP (“BDO”), has completed a re-audit of the company’s consolidated financial statements for the fiscal years ended Dec. 31, 2012 and 2011, and the attestation of the effectiveness of the company’s internal control over financial reporting as of December 31, 2012 under Section 404 of the Sarbanes-Oxley Act of 2002, as amended. No adjustments or changes were made to the Company’s consolidated financial statements or related notes for the fiscal years ended December 31, 2012 and 2011, except for updates with respect to subsequent events that related to certain litigation matters.
As previously announced, BDO was appointed as the Company’s new independent registered public accounting firm on April 24, 2013 following the resignation of KPMG LLP (“KPMG”) as its predecessor independent registered public accounting firm on April 8, 2013. The resignation of KPMG was due solely to the impairment of its independence resulting from its now former partner’s alleged unlawful activities. The resignation of KPMG was not related to the company’s financial statements, its accounting practices, the integrity of the company’s management, or for any other reason.
Following the completion of the Re-audit by BDO, the Company has filed an amended annual report on Form 10-K/A for the year ended December 31, 2012 with the U.S. Securities and Exchange Commission, which includes BDO’s audit reports relating to the Company’s consolidated financial statements as of and for the fiscal years ended December 31, 2012 and 2011 and a related financial statement schedule, and the effectiveness of the company’s internal control over financial reporting as of December 31, 2012, which replace the corresponding audit reports of KPMG in the annual report on Form 10-K for the year ended December 31, 2012 that were withdrawn upon KPMG’s resignation subsequent to the filing.
“We are pleased that BDO’s thorough and efficient work has allowed for this transitional period to successfully conclude, and we can now focus on managing our global footwear business,” stated David Weinberg, chief operating officer and chief financial officer of Skechers.
