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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) August 26, 1994
TRANS WORLD MUSIC CORP.
(Exact name of registrant as specified in its charter)
New York 0-14818 14-1541629
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) file Number) Identification Number)
38 Corporate Circle
Albany, New York 12203
(Address of principal executive offices, including zip code)
(518) 452-1242
(Registrant's telephone number, including area code)
This Current Report contains 3 pages.
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Item 4. Changes in Registrant's Certifying Accountant.
Effective September 1, 1994, the Registrant's certifying accountant,
the firm of Ernst & Young LLP, is selling their Albany, New York
practice to another national firm, KPMG Peat Marwick LLP. At a
meeting held on August 26, 1994, the Audit Committee of the Board of
Directors approved the engagement of KPMG Peat Marwick as its
independent auditors for the fiscal year ending January 28, 1995, to
replace the firm of Ernst & Young, which declined to stand for
reelection as auditors of the Registrant, effective immediately.
Ernst & Young has been the Registrant's auditors since the
Registrant's initial public offering in 1986. The reports of Ernst &
Young on the Registrant's financial statements for the past two
fiscal years 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.
In connection with the audits of the Registrant's financial
statements for each of the two fiscal years ended January 29, 1994,
and in the subsequent interim period, there were no disagreements on
any matters of accounting principles or practices, financial statement
disclosure, or auditing scope and procedures which, if not resolved
to the satisfaction of Ernst & Young, would have caused Ernst &
Young to make reference to the matter in their report.
The Registrant has requested Ernst & Young to furnish it a letter
addressed to the Commission stating whether it agrees with the
statements set forth above in this Item 4. A copy of that letter,
dated August 31, 1994, is filed herewith as Exhibit 16.1 to this
Current Report on Form 8-K.
(c) Exhibits. Page No.
16.1 Letter, dated August 31, 1994, from Ernst & Young,
the Registrant's certifying accountant. 3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
TRANS WORLD MUSIC CORP.
August 31, 1994 By:/s/Robert J. Higgins
Robert J. Higgins, President and Chief
Executive Officer
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Exhibit 16.1
August 31, 1994
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have read Item 4 of the Current Report on 8-K dated August 31, 1994, of
Trans World Music Corp. and are in agreement with the statements contained
therein.
/s/ Ernst & Young LLP
