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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: November 27, 1996
INNOVATIVE TECH SYSTEMS, INC.
(Exact Name of Registrant as Specified in its Charter)
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Illinois 33-17856-C 65-0071222
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(State or other jurisdiction of (Commission File No.) (I.R.S. Employer Identification No.)
incorporation or organization)
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444 JACKSONVILLE ROAD, SUITE 200, WARMINSTER, PA 18974
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(Address of Principal Executive Offices)
Registrant's Telephone Number, Including Area Code: (215) 441-5600
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On November 22, 1996, the Registrant dismissed Coopers & Lybrand,
L.L.P., independent accountants, who had previously been engaged as the
Registrant's principal accountant to audit the Registrant's financial
statements. Coopers & Lybrand's dismissal is to be effective as of December 2,
1996. The Registrant is currently in the process of interviewing candidates to
replace Coopers & Lybrand as the Registrant's principal accountant with
responsibility for auditing the Registrant's financial statements.
The decision to change accountants was approved by the Registrant's
Board of Directors. The former accountant's report on the Registrant's
financial statements for either of the past two years did not contain an
adverse opinion or a disclaimer of opinion, nor was either report qualified as
to uncertainty, audit scope or accounting principles. During the Registrant's
two most recent fiscal years and subsequent interim periods, there were no
disagreements with the former accountant 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
accountant, would have caused it to make a reference to the subject matter of
the disagreements in connection with its reports.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 16.1 Letter of Coopers & Lybrand, L.L.P. - to be submitted
in a post-filing amendment.
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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.
DATED: November 27, 1996
INNOVATIVE TECH SYSTEMS, INC.
By: /s/ Louis J. Desiderio
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Louis J. Desiderio,
Vice President, Chief Financial Officer
and Assistant Secretary
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