DAILY JOURNAL CORP FILES (8-K) Disclosing Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits

Edgar Glimpses |

Item 4.01 Changes in Registrant's Certifying Accountant

The Audit Committee of the Board of Directors of Daily Journal Corporation (the "Company") approved the dismissal of Ernst & Young LLP ("EY") as the Company's independent registered public accounting firm, effective June 24, 2014. The Audit Committee expects to engage a new independent registered public accounting firm within the coming days, and the Company will thereafter file another Form 8-K to announce the engagement.

The reports of EY on the Company's financial statements for the past two fiscal years contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles.

During the Company's two most recent fiscal years and the subsequent interim period, there have been no disagreements with EY 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 EY would have caused EY to make reference to the subject matter of such disagreement(s) in its report on the Company's financial statements.

During the Company's two most recent fiscal years and the subsequent interim period, there have been no reportable events of the kinds described in Item 304(a)(1)(v) of Regulation S-K under the Securities Exchange Act of 1934, except that EY expressed an adverse opinion in its report on the Company's internal control over financial reporting as of September 30, 2013 due to what EY believes are material weaknesses with respect to non-routine transactions and processes and the segregation of duties and use of financial reporting information within the Company's financial reporting system. The Company believes that its internal control over financial reporting was effective as of September 30, 2013. The Audit Committee of the Company's Board of Directors has discussed this matter with EY and has authorized EY to respond fully to the inquiries of the Company's successor independent registered public accounting firm.

The Company requested and has received a letter from EY addressed to the Securities and Exchange Commission stating whether or not EY agrees with the statements in this Item 4.01. A copy of the letter, dated June 26, 2014, is filed as Exhibit 16.1 to this Form 8-K.

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Item 9.01 Financial Statements and Exhibits

16.1 Letter from Ernst & Young LLP to the Securities and Exchange Commission, dated June 26, 2014.

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