Intuitive Surgical, Inc. (NASDAQ:ISRG)

8K 2/14/2014   Changes in Registrant's Certifying Accountant.

 

On February 10, 2014, Intuitive Surgical, Inc. (the “Company”) sent Ernst & Young LLP (“Ernst & Young”), as well as other accounting firms, a “request for proposal” for services associated with the audit of the Company’s consolidated financial statements for the year ending December 31, 2014.  On February 11, 2014, Ernst & Young declined to respond to the “request for proposal” and further indicated that it was declining to stand for re-election as auditors of the Company’s financial statements for the year ending December 31, 2014, and effectiveness of the Company's internal control over financial reporting as of December 31, 2014. 
 
The reports of Ernst & Young on the Company's consolidated financial statements for the years ended December 31, 2013 and 2012, did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles. In connection with the audits of the Company's financial statements for each of the two fiscal years ended December 31, 2013 and 2012, and in the subsequent interim period through February 11, 2014, there were no disagreements with Ernst & Young on any matters of accounting principles or practices, financial statement disclosure, or auditing scope and procedures which, if not resolved to the satisfaction of Ernst & Young would have caused Ernst & Young to make reference to the subject matter in their report. There also were no “reportable events” as that term is described in Item 304(a)(1)(v) of Regulation S-K of the rules and regulations of the Securities and Exchange Commission (“SEC”).
 
The Company requested Ernst & Young to furnish the Company a letter addressed to the SEC stating whether it agrees with the above statements. A copy of that letter, dated February 14, 2014, is filed as Exhibit 16.1 to this Form 8-K.