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Cybernet Data Systems Inc.

MercadoLibre Announces Change in Independent Registered Public Accounting Firm

Strategic Insights

— 2 min read

MercadoLibre, Inc., a leading e-commerce platform, has informed its current independent registered public accounting firm, Deloitte & Co S.A., that it will be dismissed as the Company's independent registered public accounting firm effective upon completion of their audit of the Company's consolidated financial statements as of and for the year ending December 31, 2021. The decision was made by the Audit Committee of the Board of Directors, and Deloitte's reports on the Company's consolidated financial statements for the fiscal years ended December 31, 2019 and December 31, 2020, do not contain any adverse opinion or disclaimer of opinion.

The Company has also approved the appointment of Pistrelli, Henry Martin y Asociados S.R.L., a member firm of Ernst & Young Global Limited, as the new independent registered public accounting firm, contingent upon the execution of an engagement letter following completion of EY's client acceptance procedures. EY's appointment is for the Company's fiscal year ending December 31, 2022, and related interim periods.

Key Takeaways:

  • Deloitte & Co S.A. has been dismissed as MercadoLibre's independent registered public accounting firm, effective upon completion of their audit of the Company's consolidated financial statements as of and for the year ending December 31, 2021.
  • The Audit Committee of the Board of Directors made the decision to dismiss Deloitte, and their reports on the Company's consolidated financial statements for the fiscal years ended December 31, 2019 and December 31, 2020, do not contain any adverse opinion or disclaimer of opinion.
  • Pistrelli, Henry Martin y Asociados S.R.L., a member firm of Ernst & Young Global Limited, has been approved for appointment as MercadoLibre's new independent registered public accounting firm, contingent upon the execution of an engagement letter.
  • EY's appointment is for the Company's fiscal year ending December 31, 2022, and related interim periods.
  • During the fiscal years ended December 31, 2019, and December 31, 2020, and the subsequent interim period through November 2, 2021, there were no disagreements with Deloitte on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
  • Deloitte's reports on the Company's consolidated financial statements for the fiscal years ended December 31, 2019 and December 31, 2020, do not contain any adverse opinion or disclaimer of opinion.
  • EY did not consult with MercadoLibre regarding the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements.

Statistics:

  • Deloitte & Co S.A. has been dismissed as MercadoLibre's independent registered public accounting firm, effective upon completion of their audit of the Company's consolidated financial statements as of and for the year ending December 31, 2021.
  • The Audit Committee of the Board of Directors made the decision to dismiss Deloitte.
  • EY's appointment is for the Company's fiscal year ending December 31, 2022, and related interim periods.

Sources:

  • MercadoLibre, Inc. Current Report on Form 8-K dated November 8, 2021.
  • Deloitte & Co S.A. Letter dated November 8, 2021.

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