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): September 17, 1998
HARVARD INDUSTRIES, INC.
(Exact name of registrant as specified in charter)
Florida 0-21362 21-0715310
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3 Werner Way 08833
Lebanon, New Jersey (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (908) 437-4100
(Former name or former address, if changed from last report)
NONE
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Item 4. Changes in Registrant's Certifying Accountant
On September 17, 1998, management of Harvard Industries, Inc. (the
"Company") dismissed PricewaterhouseCoopers LLP ("PricewaterhouseCoopers") as
the Company's independent accountants and appointed the firm of Arthur Andersen
LLP ("Arthur Andersen") as the new independent accountants for the Company. The
decision to change accountants is subject to ratification by the Board of
Directors of the Company.
Pursuant to Item 304 (a)(1) of Regulation S-K, the Company reports the
following:
(i) The report of PricewaterhouseCoopers on the Company's
consolidated financial statements for the fiscal years ended
September 30, 1997 and 1996 contained no adverse opinion or
disclaimer of opinion and were not qualified as to audit scope
or accounting principle. However, the report included an
explanatory paragraph to reflect the uncertainty arising from
the Company's ability to continue as a going concern as a
result of its voluntary filing of petition for reorganization
under Chapter 11 of the United States Bankruptcy Code.
(ii) In connection with its audits for the fiscal ended September
30, 1997 and 1996 years and through September 17, 1998, there
have been no disagreements with PricewaterhouseCoopers 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
PricewaterhouseCoopers would have caused them to make
reference thereto in their report on the financial statements
for such years.
(iii) During each of the fiscal years ended September 30, 1997 and
1996, the following reportable events, as that term is defined
by Item 304(a)(1)(v) of Regulation S-K, occurred:
(1) PricewaterhouseCoopers became aware of accounting
irregularities related to the Company's
Doehler-Jarvis, Inc. subsidiaries during the fiscal
year ended September 30, 1996. These matters related
to inventories, materials and supplies and fixed
assets.
(2) During each of the two years in the period ended
September 30, 1997, the Company experienced
significant turnover of accounting and financial
personnel. This reduction complicated a lack of
uniform (company-wide) accounting practices and
information systems. As a result, the Company
experienced certain material weaknesses in
internal control.
PricewaterhouseCoopers discussed these reportable events with
the Company's Audit Committee in August 1996, November 1996,
February 1997 and December 1997.
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Management of the Company has authorized
PricewaterhouseCoopers to respond fully to the inquiries of
Arthur Andersen, as the Company's successor accountants,
concerning the reportable events described above.
The Company has requested that PricewaterhouseCoopers furnish it a
letter addressed to the Securities and Exchange Commission stating whether or
not it agrees with the above statements. A copy of such letter will be filed as
an amendment to this Form 8-K within ten business days from the date hereof.
Pursuant to Item 304(a)(2) of Regulation S-K, the Company reports the
following:
During the Company's two most recent fiscal years, and any subsequent
interim period prior to engaging Arthur Andersen, the Company has not consulted
with Arthur Andersen regarding the application of accounting principles to a
specific transaction, or the type of audit opinion that might be rendered with
respect to the Company's financial statements.
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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.
HARVARD INDUSTRIES, INC.
By:/s/ Roger G. Pollazzi
---------------------------------
Name: Roger G. Pollazzi
Title: Chief Operating Officer
September 24, 1998
