Changes in Registrant's Certfying Accountant, Financial Statements and Exhibi
Item 4.01. Change in Registrant's Certifying Accountant
Effective on March 1, 2007, Sky Petroleum Inc. (the "Company") terminated the services of its principal registered independent accountant, Beckstead and Watts, LLP, certified public accountants of Henderson, Nevada ("Beckstead and Watts").
In Beckstead and Watts' principal accountant reports on the Company's financial statements for each of the past two years, no adverse opinion was issued and no opinion of Beckstead and Watts was modified as to audit scope or accounting principles. Beckstead and Watts' principal accountant report on the Company's financial statements for the year-ended December 31, 2004, as reported in the Company's Form 10-KSB filed with the Securities and Exchange Commission on March 31, 2005, contained a disclaimer paragraph concerning uncertainty as to the Company's ability to continue as a going concern. The financial statements did not include any adjustments that might have resulted from the outcome of this uncertainty. No other reports in each of the past two years contained a disclaimer of opinion or were modified as to uncertainty.
The change in auditor was recommended and approved by our Audit Committee, within its powers as granted by the Company's Audit Committee Charter.
In the two most recent fiscal years and any interim period preceding the dismissal of Beckstead and Watts, we are not aware of any disagreements with Beckstead and Watts on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement(s), if not resolved to the satisfaction of Beckstead and Watts, would have caused it to make references to the subject matter of the disagreement(s) in connection with its report.
We are not aware of any reportable events (as defined in Item 304(a)(1)(iv)(B) of Regulation S-B) that have occurred during the two most recent fiscal years and the interim period preceding the dismissal of Beckstead and Watts.
Beckstead and Watts has been provided the disclosure in this Current Report on Form 8-K, and within ten business days, will provide a letter commenting on the disclosure, pursuant to Item 304(a)(3), which will be attached as Exhibit 16.1.
We have engaged BDO Patel and Al Saleh, of Dubai, United Arab Emirates ("BDO"), as our new principal registered independent accountant effective on March 1, 2007, to audit our financial records. BDO is registered with the Public Company Accounting Oversight Board. During the two most recent fiscal years and the interim period preceding the appointment of BDO, we have not consulted BDO regarding the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that might be rendered on our financial statements, and neither a written report nor oral advice was provided to us that we considered an important factor in reaching a decision as to the accounting or financial reporting issue; or any matter that was either the subject of a disagreement or event (as defined in Regulation S-B, Item 304(a)(1)(iv)(B)).
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