<PAGE> 1
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): October 25, 1999
SECURITY FIRST TECHNOLOGIES CORPORATION
------------------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 000-24931 58-2395199
- ---------------------------- ------------ -------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3390 PEACHTREE ROAD, NE, SUITE 1700, ATLANTA, GEORGIA 30326
-----------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (404) 812-6200
--------------
NOT APPLICABLE
-------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE> 2
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
The Board of Directors of Security First Technologies Corporation ("S1") has
appointed PricewaterhouseCoopers LLP as S1's independent accountants, effective
October 26, 1999. S1's former independent accountants, KPMG LLP, were dismissed
effective October 25, 1999.
The reports issued by KPMG LLP on S1's financial statements for fiscal years
1997 and 1998 did not contain any adverse opinion or a disclaimer of opinion, or
any qualification or modification as to uncertainty, audit scope or accounting
principles.
The decision to change independent accountants to PricewaterhouseCoopers LLP was
recommended by the Audit Committee of the Board of Directors of S1 in
consultation with the full Board of Directors.
During S1's two most recent fiscal years and the subsequent interim period
preceding the dismissal of KPMG LLP, there were no disagreements with KPMG LLP
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 LLP, would have caused KPMG LLP to make reference to the
subject matter of the disagreement in connection with its reports.
As required by Item 304(a)(3) of Regulation S-K, S1 has furnished KPMG LLP with
the disclosures contained in this Item 4 and received a letter from KPMG LLP
dated November 1, 1999 addressed to the Securities and Exchange Commission and
copied to S1. A copy of KPMG LLP's letter is included as Exhibit 16 hereto.
ITEM 7. EXHIBIT.
Exhibit No. Description of Exhibit
16. Letter from KPMG LLP dated November 1, 1999.
<PAGE> 3
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.
SECURITY FIRST TECHNOLOGIES CORPORATION
(Registrant)
/s/ ROBERT F. STOCKWELL
---------------------------------------
Robert F. Stockwell
Chief Financial Officer and Treasurer
Date: October 29, 1999
<PAGE> 4
EXHIBIT INDEX
Exhibit No. Description of Exhibit
16. Letter from KPMG LLP dated November 1, 1999.
<PAGE> 1
November 1, 1999 EXHIBIT 16
Securities and Exchange Commission
Washington, DC 20549
Ladies and Gentlemen:
We were previously principal accountants for Security First Technologies
Corporation and, under the date of February 4, 1999, we reported on the
consolidated financial statements of Security First Technologies Corporation
and subsidiary as of and for the years ended December 31, 1998 and 1997. On
October 25, 1999, our appointment as principal accountants was terminated. We
have read the statements of Security First Technologies Corporation included
under Item 4 of its Form 8-K dated November 1, 1999, and we agree with such
statements, except that we are not in a position to agree or disagree with
Security First Technologies Corporation's statement that the change was
recommended by the Audit Committee of the Board of Directors.
Very truly yours,
/s/ KPMG LLP
Copy to: Robert F. Stockwell
Chief Financial Officer
Security First Technologies Corporation
