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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): August 7, 1998
SANCHEZ COMPUTER ASSOCIATES, INC.
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(Exact Name of Registrant as Specified in Charter)
Pennsylvania 0-21705 23-2161560
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
40 Valley Stream Parkway, Malvern, PA 19355
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (610) 296-8877
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ITEM 4. Changes in Registrant's Certifying Accountant
On August 7, 1998, as a result of recently consummated merger of Coopers &
Lybrand L.L.P., the registrant's auditors, and Price Waterhouse LLP ("PW"), and
the existence of a business consulting relationship with PW which was expected
to impair its auditor independence, PricewaterhouseCoopers LLP ("PwC") was
dismissed as auditors of the registrant. The decision to dismiss PwC as
independent auditors was not recommended or approved by the Audit Committee of
the registrant's Board of Directors. PwC's reports on audits of the registrant's
consolidated financial statements as of and for the years ended December 31,
1997 and 1996 contained no adverse opinion, no disclaimer of opinion and were
not qualified or modified as to uncertainty, audit scope, or accounting
principles.
The registrant is not aware of any disagreements with PwC during the
registrant's two most recent fiscal years and through the date of this report of
any matters of accounting principles or
practices, financial statement disclosures, or auditing scope and procedures,
which if not resolved to the satisfaction of PwC, would have caused PwC to make
reference to the matters in their reports.
During the registrant's two most recent fiscal years and through the date of
this report, the registrant has no reportable events as defined in Item
304(a)(1)(v) of Regulation S-K.
The Company has requested that PwC furnish it with a letter addressed to the
Securities and Exchange Commission stating whether PwC agrees with the above
statements. A copy of that letter dated August 11, 1998 is filed as Exhibit 16
to this Form 8-K.
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SIGNATURE
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 thereunto duly authorized.
Dated: August 7, 1998 SANCHEZ COMPUTER ASSOCIATES, INC.
By: /s/Joseph F. Waterman
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Joseph F. Waterman,
Sr. Vice President
and Chief Financial Officer
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EXHIBIT INDEX
DOCUMENT
16 Letter re Change in Certifying Accountant.
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Exhibit 16
August 11, 1998
Securities and Exchange Commission
450 5th Street, N.W.
Washington, D.C. 20549
Commissioners:
We have read the statements made by Sanchez Computer Associates, Inc. (copy
attached), which we understand will be filed with the Commission, pursuant to
Item 4 of Form 8-K, as part of the Company's Form 8-K dated August 7, 1998. We
agree with the statements concerning our Firm in such Form 8-K
Very truly yours,
PricewaterhouseCoopers L.L.P.
