secwatch.observer — SEC 8-K summary
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Issuer:     Leonardo DRS, Inc. (DRS)
CIK:        0001833756
Form:       8-K
Filed at:   2022-03-24T23:59:59+00:00
Accession:  0001628280-22-007065
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 4.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Leonardo DRS selects Ernst & Young as new auditor for FY2022, replacing KPMG due to EU rotation rules
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- Audit Committee selected EY as independent registered public accounting firm for FY2022, subject to completion of acceptance procedures.
- EY selection tied to parent Leonardo S.p.A.'s appointment of EY affiliate under European mandatory audit firm rotation rules.
- KPMG to be dismissed after completing FY2021 audit; no disagreements or reportable events in prior periods.
- KPMG's reports for FY2019-2020 were unqualified except for an emphasis-of-matter on lease accounting change (ASC 842).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833756/000162828022007065/0001628280-22-007065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833756/000162828022007065/drs-20220318.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-007065

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer