Item 4.01. Changes in Registrant's Certifying Accountant.
(a) Previous independent registered public accounting firm
On March 2, 2023, KPMG LLP (“KPMG”) was notified on behalf of the Audit Committee of the Board of Directors (the “Audit Committee”) of Astec Industries, Inc. and subsidiaries (the “Company”) that it was dismissed as the Company’s independent registered public accounting firm effective immediately.
The audit reports of KPMG on the Company’s consolidated financial statements as of and for the years ended December 31, 2022 and 2021 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. The audit reports of KPMG on the effectiveness of the Company's internal control over financial reporting as of December 31, 2022 and 2021, did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles.
During the Company’s two fiscal years ended December 31, 2022 and 2021 and in the subsequent interim period through March 2, 2023, there were no “disagreements” (as that term is described in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and KPMG on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which, if not resolved to the satisfaction of KPMG, would have caused KPMG to make reference to the subject matter of such disagreement in connection with its reports on the Company's consolidated financial statements for such years. In addition, during the Company’s two fiscal years ended December 31, 2022 and 2021 and in the subsequent interim period through March 2, 2023, there were no “reportable events” (as that term is defined in Item 304(a)(1)(v) of Regulation S-K and the related instructions).
In accordance with Item 304(a)(3) of Regulation S-K, the Company has provided KPMG with a copy of this Current Report on Form 8-K prior to the time this report was filed with the Securities and Exchange Commission (the “SEC”) and requested that KPMG furnish the Company with a letter addressed to the SEC stating whether or not it agrees with the above disclosure. A copy of KPMG’s letter, dated March 8, 2023, is filed as Exhibit 16.1 to this Current Report on Form 8-K.
(b) New independent registered public accounting firm
On March 2, 2023, the Audit Committee appointed Deloitte & Touche LLP (“Deloitte”) as the Company’s independent registered public accounting firm to audit the Company’s consolidated financial statements for its year ending December 31, 2023, subject to completion of Deloitte’s standard client acceptance procedures and execution of an engagement letter.
During the Company’s two most recent fiscal years ended December 31, 2022 and December 31, 2021 and in the subsequent interim period through March 2, 2023, neither the Company nor anyone on its behalf consulted Deloitte regarding either: (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 Company’s financial statements, and neither a written report was provided to the Company or oral advice was provided that Deloitte concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a “disagreement” or “reportable event” (as these terms are defined or described in Item 304(a)(1)(iv) and Item 304(a)(1)(v) of Regulation S-K, respectively).