8-K: Amplify Energy Switches Auditors to Grant Thornton

Amplify Energy Corp.'s Audit Committee has appointed Grant Thornton LLP as its independent registered public accounting firm for fiscal year 2026, replacing Deloitte & Touche LLP.

Summary

• Amplify Energy Corp.'s Audit Committee completed a competitive process to select its independent registered public accounting firm for the fiscal year ending December 31, 2026 (Fiscal 2026).
• On January 12, 2026, the Audit Committee approved the dismissal of Deloitte & Touche LLP (Deloitte) upon completion of their audit for the year ended December 31, 2025, and the effectiveness of internal control over financial reporting as of December 31, 2025.
• The Audit Committee also approved the appointment of Grant Thornton LLP (Grant Thornton) as the new independent registered public accounting firm for Fiscal 2026, effective upon Deloitte's dismissal and completion of Grant Thornton's client acceptance procedures.
• There were no disagreements or reportable events with Deloitte during the fiscal years ended December 31, 2024 and 2023, and subsequent interim periods through January 12, 2026.
• The company did not consult with Grant Thornton on accounting principles or audit opinions prior to their appointment.

Sentiment

Score: 5

Explanation: The filing reports a routine change in the company's independent registered public accounting firm following a competitive process. The explicit statement of no disagreements or reportable events with the outgoing auditor indicates a neutral event without negative implications for financial reporting integrity.

Positives

• The change in auditor followed a competitive process, suggesting due diligence by the Audit Committee.
• No disagreements or reportable events were reported with the outgoing auditor, Deloitte, indicating a smooth transition without underlying issues.

Risks

• Potential for minor disruption during the transition period between audit firms, though mitigated by the stated lack of disagreements.

Future Outlook

Grant Thornton LLP will serve as the independent registered public accounting firm for Amplify Energy Corp. for the fiscal year ending December 31, 2026, following the completion of Deloitte's audit for fiscal year 2025.

Management Comments

• The Audit Committee of the Board of Directors of Amplify Energy Corp., with the assistance of the Company's management, recently completed a competitive process to select the Company's independent registered public accounting firm for the fiscal year ending December 31, 2026.

Industry Context

Changes in independent registered public accounting firms are a routine corporate governance practice, often occurring after a competitive bidding process to ensure cost-effectiveness, fresh perspectives, or alignment with evolving company needs. The absence of reported disagreements or reportable events suggests this change is administrative rather than indicative of underlying financial or accounting issues, aligning with standard industry practices for auditor transitions.

Corporate Governance

Stakeholder Impact

• Shareholders: Provides transparency regarding the company's audit oversight and continuity of financial reporting integrity.
• Regulators: Ensures compliance with SEC reporting requirements regarding auditor changes.

Next Steps

• Deloitte & Touche LLP will complete their audit of the company's consolidated financial statements as of and for the year ended December 31, 2025, and the effectiveness of internal control over financial reporting as of December 31, 2025, and issue their reports thereon.
• Grant Thornton LLP will complete its client acceptance procedures.
• Grant Thornton LLP will become the independent registered public accounting firm for Fiscal 2026.

Key Dates

Recommendation

The filing details a routine administrative change in the company's independent auditor, which is a standard corporate governance practice. Crucially, there were no reported disagreements or reportable events with the outgoing auditor, Deloitte & Touche LLP, indicating that the change is not a red flag for financial reporting integrity. This event is neutral and does not provide new information that would warrant a change in investment thesis or a 'buy' or 'sell' recommendation. Therefore, a 'hold' recommendation is appropriate as investors should maintain their current position based on broader company fundamentals and market conditions, rather than this specific administrative update.

Keywords

Amplify Energy, AMPY, auditor change, Grant Thornton, Deloitte & Touche, SEC filing, 8-K, corporate governance, accounting firm, independent auditor