Delaware 1-8245 22-2084119
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Item 4.01. Changes in Registrant's Certifying Accountant
Based on information provided by Mazars USA LLP ("Mazars"), the independent registered public accounting firm of North European Oil Royalty Trust (the "Trust"), substantially all the partners and employees of Mazars joined FORVIS, LLP. Upon the transaction effective date of June 1, 2024, FORVIS, LLP changed its name to Forvis Mazars, LLP and Mazars resigned as the Trust's independent registered public accounting firm. The Trustees, acting on the recommendation of the Audit Committee of the Trust, have duly appointed Forvis Mazars, LLP to serve as the independent registered public accounting firm of the Trust effective June 1, 2024 for the remainder of the Trust's fiscal year ending October 31, 2024.
Mazars' reports on the Trust's consolidated financial statements for the fiscal years ended October 31, 2022 and 2023 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles.
During the two most recent fiscal years ended October 31, 2022 and 2023, and the subsequent interim period through May 31, 2024, there were (i) no disagreements with Mazars on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Mazars, would have caused Mazars to make reference to the subject matter of the disagreements in connection with its reports on the Trust's consolidated financial statements for such years, and (ii) no "reportable events," as defined in Item 304(a)(1)(v) of Regulation S-K.
During the two most recent fiscal years ended October 31, 2022 and 2023, and the subsequent interim period through May 31, 2024, the Trust (or someone on its behalf) did not consult Forvis Mazars, LLP regarding (i) either (x) the application of accounting principles to a specified transaction, either complete or proposed, or (y) the type of audit opinion that might be rendered on the Trust's financial statements, or (ii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to that Item) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).
The Trust provided Mazars with a copy of the above disclosures and requested that Mazars furnish the Trust with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the statements made above. A copy of Mazars' letter dated June 5, 2024 is attached as Exhibit 16.1 of this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) ExhibitsThe following exhibit is furnished herewith:
Exhibit 16.1. Letter from Mazars USA LLP dated June 5, 2024.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NORTH EUROPEAN OIL ROYALTY TRUST
(Registrant)
By /s/ John R. Van Kirk
John R. Van Kirk
Managing Director
Dated: June 5, 2024
Exhibit 16.1
June 5, 2024
Ladies and Gentlemen:
We have read the statements made by North European Oil Royalty Trust (the "registrant") under Item 4.01 of its Form 8-K dated June 5, 2024 and are in agreement with the statements therein concerning Mazars USA LLP. We have no basis to agree or disagree with other statements of the registrant contained therein.