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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported):
APRIL 12, 1999
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AMERICAN AIRCARRIERS SUPPORT, INCORPORATED
(Exact name of registrant as specified in its charter)
DELAWARE 0-24275 52-2081515
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
587 GREENWAY INDUSTRIAL DRIVE
LAKEMONT BUSINESS PARK
FORT MILL, SOUTH CAROLINA 29715
(Address of principal executive offices)
(803) 548-2160
(Registrant's telephone number, including area code)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
(a) (1) Former independent accountants.
(i) The Board of Directors of American Aircarriers Support,
Incorporated (the "Company") determined that the Company
should consider retaining a larger accounting firm with a
national presence in view of the Company's growth and the
geographic diversity of recent acquisitions. The Company
solicited proposals from various accounting firms meeting that
criteria. Cherry, Bekaert & Holland, L.L.P. (the "Former
Accountants"), which had acted as the independent public
accountants for the Company for the prior three fiscal years,
was not asked to submit a proposal.
(ii) The Former Accountants reported on the Company's financial
statements for the fiscal years ended December 31, 1996 though
1998. The reports of the Former Accountants on the financial
statements for such years contained no adverse opinion or
disclaimer of opinion and were not qualified or modified as to
uncertainty, audit scope or accounting principles.
(iii) The Company's Audit Committee approved the solicitation of
proposals and made a recommendation to the Board of Directors
as to the selection of new accountants. On April 12, 1999, the
Board of Directors approved the appointment of new independent
accountants based on the Audit Committee's recommendation.
(iv) During the Company's fiscal years ended December 31, 1996,
1997 and 1998, and through the date of this report, there were
no disagreements with the Former Accountants 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 the
Former Accountants would have caused them to make reference
thereto in their report on the financial statements for such
years.
(a) (2) Effective April 12, 1999, the Registrant engaged Arthur
Andersen LLP as its new independent accountants to audit the
Company's financial statements for the fiscal year ending December
31, 1999. During the two fiscal years preceding its appointment and
through the date hereof, the Company had not consulted with Arthur
Andersen LLP on any item.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Not applicable.
(b) Not applicable.
(c) Letter from the Former Accountants as described in Item 4, paragraph
(a)(3) above is filed as Exhibit 16.1 pursuant to Item 601 of Regulation
S-B.
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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.
AMERICAN AIRCARRIERS SUPPORT, INCORPORATED
Date: April 15, 1999 By: /s/ Elaine T. Rudisill
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Elaine T. Rudisill, Chief Financial Officer
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Reg. S-B
Exhibit No. Description Item No.
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<S> <C> <C>
16.1 Letter of Cherry, Bekaert & Holland, L.L.P., dated April 13, 1999 16
concerning change in certifying accountants.
</TABLE>
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EXHIBIT 16.1
April 13, 1999
Securities and Exchange Commission
450 Fifth Street N.W.
Washington, DC 20549
Ladies and Gentlemen:
We were previously principal accountants for American Aircarriers Support,
Incorporated and subsidiaries (the Company) and under date of January 29, 1999,
we reported on the consolidated financial statements of the Company as of and
for the years ended December 31, 1998 and 1997. On April 12, 1999, our
appointment as principal accountants was terminated. We have read the Company's
statements included under Item 4 of its Form 8-K dated April 12, 1999, which we
understand will be filed with the Commission, and we agree with such statements
contained therein insofar as they relate to our firm.
Very truly yours,
Cherry, Bekaert & Holland, L.L.P.
