UGI Corporation Appoints KPMG LLP as Independent Registered Public Accounting Firm

UGI Corporation (NYSE: UGI) recently announced a significant change in its independent registered public accounting firm. As per the 8-K SEC Filing dated October 23, 2024, the company disclosed that its Audit Committee has approved the appointment of KPMG LLP (“KPMG”) as the new independent registered public accounting firm for the fiscal year ending September 30, 2025. This decision follows a thorough process that involved issuing a Request for Proposal to multiple qualified accounting firms, including the former firm, Ernst & Young LLP (“EY”).

The appointment of KPMG marks the dismissal of EY as UGI’s independent registered public accounting firm. The transition is set to take effect upon the completion of EY’s report on the company’s consolidated financial statements for the fiscal year ended September 30, 2024, and the assessment of internal control over financial reporting for the same period, to be included in UGI’s Annual Report on Form 10-K.

EY’s audit reports for UGI’s financial statements in fiscal years 2023 and 2022 were unqualified and did not contain adverse opinions, disclaimers, or qualifications regarding accounting principles, practices, or auditing scope. Moreover, no disagreements or reportable events transpired between UGI and EY in the mentioned periods, as per regulatory guidelines.

UGI Corporation has submitted the Form 8-K to EY and received confirmation in the form of a letter dated October 29, 2024, included in Exhibit 16.1 of the filing. Furthermore, during the aforementioned periods, there were no consultations between the company and KPMG on accounting principles, audit opinions, disagreements, or reportable events.

Investors and stakeholders will be keen to observe how UGI Corporation’s financial reporting and auditing processes evolve with the new independent registered public accounting firm, KPMG LLP, taking the reins for the upcoming fiscal year.

The filing also includes the requisite disclosure of financial statements and exhibits as per Item 9.01 of the Form 8-K. The full details of the filing can be accessed through the Securities and Exchange Commission’s public database or the company’s investor relations section.

This transition in auditing firms signifies a strategic move by UGI Corporation to ensure robust financial reporting practices and reinforce transparency in its operations and reporting standards.

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

About UGI

UGI Corporation, together with its subsidiaries, distributes, stores, transports, and markets energy products and related services in the United States and internationally. The company operates through four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. It distributes propane to approximately 1.3 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,400 propane distribution locations.