# EDGAR Filing Document

**Accession Number:** 0001747748
**File Stem:** 0001628280-23-005055
**Filing Date:** 2023-2
**Character Count:** 10559
**Document Hash:** 5c61af084ae5815c1d4f6db867ff3795
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-23-005055.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001628280-23-005055

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230221

**ITEM INFORMATION**: Changes in Registrant's Certifying Accountant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Qualtrics International Inc.
- **CENTRAL INDEX KEY:** 0001747748
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 471754215
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39952
- **FILM NUMBER:** 23667268

**BUSINESS ADDRESS:**
- **STREET 1:** 333 WEST RIVER PARK DRIVE
- **CITY:** PROVO
- **STATE:** UT
- **ZIP:** 84604
- **BUSINESS PHONE:** 385-203-4999

**MAIL ADDRESS:**
- **STREET 1:** 333 WEST RIVER PARK DRIVE
- **CITY:** PROVO
- **STATE:** UT
- **ZIP:** 84604

?xml version="1.0" ? xm-20230221

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): February 21, 2023**

**QUALTRICS INTERNATIONAL INC.**

**(Exact name of registrant as specified in charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **001-39952** | **47-1754215** |
| **(State or other jurisdiction of incorporation)** | **(Commission File Number)** | **(IRS Employer Identification No.)** |

---

**333 West River Park Drive**

**Provo, Utah 84604**

**(Address of principal executive offices and zip code)**

**Registrant's telephone number, including area code: (385) 203-4999**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Class A Common Stock, par value $0.0001 per share | XM | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined by Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 4.01 Changes in Registrant's Certifying Accountant**

*(a) Dismissal of Independent Registered Public Accounting Firm*

On February 21, 2023, the Audit Committee of the Board of Directors (the "Audit Committee") of Qualtrics International Inc. (the "Company") approved the dismissal of KPMG LLP ("KPMG") as the Company's independent registered public accounting firm, upon completion of KPMG's audit of the Company's consolidated financial statements as of and for the year ended December 31, 2022 and of the effectiveness of the Company's internal control over financial reporting as of December 31, 2022, and issuance of KPMG's reports thereon.

The audit reports of KPMG on the Company's consolidated financial statements as of and for the years ended December 31, 2022 and 2021 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. The audit report of KPMG on the effectiveness of internal control over financial reporting as of December 31, 2022 indicates that the Company did not maintain effective internal control over financial reporting as of December 31, 2022 because of the effect of a material weakness on the achievement of the objectives of the control criteria and contains an explanatory paragraph that states a material weakness related to risk assessment over information technology general controls, including certain controls over logical access and change management, and process level controls including information used in the execution of those controls been identified and included in management's assessment.

During the fiscal years ended December 31, 2022 and 2021, and through the date of KPMG's dismissal on February 24, 2023, there were (i) no "disagreements" (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and KPMG on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of KPMG would have caused KPMG to make reference to the subject matter of the disagreement in connection with its reports on the Company's consolidated financial statements for such years, and (ii) no "reportable events" (as that term is defined in Item 304(a)(1)(v) of Regulation S-K), except that KPMG advised the Company of the material weakness in the Company's internal control over financial reporting previously reported in Part II, Item 9A "Controls and Procedures" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 and described below.

The material weakness was related to management's risk assessment process over information technology general controls, including certain controls over logical access and change management, and process level controls including information used in the execution of those controls that impacted our financial reporting processes.

In accordance with item 304(a)(3) of Regulation S-K, the Company has provided KPMG with a copy of this Current Report on Form 8-K and requested that KPMG provide the Company with a letter addressed to the Securities and Exchange Commission stating whether or not KPMG agrees with the above disclosure. A copy of KPMG's letter, dated February 24, 2023, is attached as Exhibit 16.1 to this Current Report on Form 8-K.

*(b) Appointment of New Independent Registered Public Accounting Firm*

Under the Company's master transaction agreement with SAP SE ("SAP"), the Company has agreed, subject to applicable law, to use the same independent certified public accountants as those selected by SAP. SAP has appointed BDO AG Wirtschaftsprüfungsgesellschaft as SAP's independent registered public accounting firm for the fiscal year ending December 31, 2023.

On February 21, 2023, the Audit Committee appointed BDO USA, LLP ("BDO") as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023, to be effective upon the execution of an engagement letter and related completion of BDO's standard client acceptance procedures to ensure their independence.

During the two most recent fiscal years ended December 31, 2022 and 2021, and the subsequent interim period through February 24, 2023, neither the Company nor anyone acting on its behalf has consulted with BDO regarding:

(i) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements or the effectiveness of internal control over financial reporting, and neither a written report nor oral advice was provided to the Company that BDO concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue, or

(ii) any matter that was either the subject of a "disagreement" (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K) or a "reportable event" (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).

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**Item 9.01 Financial Statements and Exhibits**

**(d) Exhibits**

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| | |
|:---|:---|
| Exhibit Number | Description |
| 16.1 | <u>[Letter from](exhibit161-kpmgletter.htm)[KPMG LLP](exhibit161-kpmgletter.htm)[to the U.S. Securities and Exchange Commission dated February](exhibit161-kpmgletter.htm)[24](exhibit161-kpmgletter.htm)[, 2023](exhibit161-kpmgletter.htm)</u>. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

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**SIGNATURES**

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.

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| | | |
|:---|:---|:---|
| | **QUALTRICS INTERNATIONAL INC.** | **QUALTRICS INTERNATIONAL INC.** |
| Dated: February 24, 2023 | By: | /s/ Blake Tierney |
|  | Name: | Blake Tierney |
|  | Title: | General Counsel |

---

## Exhibit 16.1

**Exhibit 16.1**

February 24, 2023

Securities and Exchange Commission

Washington, D.C. 20549

Ladies and Gentlemen:

We were previously principal accountants for Qualtrics International Inc. (the Company) and, under the date of February 24, 2023, we reported on the consolidated financial statements of the Company as of and for the years ended December 31, 2022 and 2021, and the effectiveness of internal control over financial reporting as of December 31, 2022. On February 21, 2023, we were notified that the Company engaged BDO USA, LLP as its principal accountant for the year ending December 31, 2023 and that the auditor-client relationship with KPMG LLP would cease upon completion of the audits of the Company's consolidated financial statements as of and for the year ended December 31, 2022 and the effectiveness of internal control over financial reporting as of December 31, 2022, and the issuance of our reports thereon. We have read the Company's statements included under Item 4.01 of its Form 8-K dated February 24, 2023, and we agree with such statements, except that we are not in a position to agree or disagree with the Company's statements in 4.01(b).

Very truly yours,

/s/ KPMG LLP

<br>