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  "documentTitle": "Generac Holdings, Inc. (GNRC)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-06-22 00:00:00",
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  "pageNumber": 63,
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  "notes": "The table highlights the 2016 column in yellow to emphasize the auditor change event.",
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      "text": "Spruce Point finds is it concerning that the auditor change came shortly after the acquisition of Pramac closed on March 1, 2016.",
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      "text": "Audit Fee: 47%",
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      "text": "On April 20, 2016 Generac dismissed Ernst & Young as the Company's independent registered public accounting firm. Two days earlier, audit committee member Ralph Castner offered his resignation.(1) Both E&Y and Mr. Castner claimed no disagreements with the Company. Spruce Point finds it is concerning that the auditor change came shortly after the acquisition of Pramac closed on March 1, 2016.(2) The Pramac acquisition was not unusually large in size, but carried a considerable audit fee premium as evidenced by a sharp increase in audit and tax fees paid by Generac.",
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      "kind": "source-note",
      "text": "Source: Proxy Statements and SEC filings 1) 8-K Auditor Dismissal 2) \"Generac To Acquire Majority Share of PR Industrial\", Press Release and closing Press Release",
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      "text": "Audit Fee Analysis table showing acquisitions and fee breakdowns from 2014-2021",
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      "kind": "title",
      "text": "Generac's Auditor Dismissed After Pramac Acquired",
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