SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report: SEPTEMBER 4, 1997
(Date of earliest event reported)
NEW HORIZONS WORLDWIDE, INC.
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(Exact name of Registrant as Specified in Charter)
DELAWARE 0-17840 22-2941704
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
500 CAMPUS DRIVE, MORGANVILLE, NEW JERSEY 07751
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (732) 536-8501
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
(a) On September 4, 1997 the Registrant terminated KPMG Peat Marwick
LLP ("KPMG") as its independent auditor. KPMG's reports on the Registrant's
financial statements for the past two years have not contained any adverse
opinion or disclaimer of opinion, or been qualified or modified as to
uncertainty, audit scope or accounting principles. The termination of KPMG was
recommended by the Audit committee and approved by the Board of Directors of the
Registrant.
During the Registrant's two most recent fiscal years and subsequent
interim periods preceding KMPG's termination, there have been no disagreements
between the Registrant and KPMG regarding any matter of the Registrant's
accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, which disagreement, if not resolved to the satisfaction of
KMPG, would have caused KMPG to make reference to the subject matter of the
disagreement in connection with its report on the Registrant's financial
statements.
(b) The Registrant has engaged Deloitte & Touche LLP as its independent
auditors effective September 4, 1997.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) EXHIBITS.
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EXHIBIT NO.
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16.1 Letter from KMPG Peat Marwick
SIGNATURE
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.
New Horizons Worldwide, Inc.
By: /s/ ROBERT S. MCMILLAN
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Robert S. McMillan, Vice President,
Treasurer and Chief Financial Officer
Date: September 10, 1997
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EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
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16.1 Letter from KMPG Peat Marwick
EXHIBIT 16.1
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously principal accountants for New Horizons Worldwide, Inc. and,
under the date of February 14, 1997, we reported on the consolidated financial
statements of New Horizons Worldwide, Inc. and subsidiaries as of and for the
years ended December 20, 1995 and December 28, 1996. On September 4, 1997, our
appointment as principal accountants was terminated. We have read New Horizons
Worldwide, Inc.'s statements included under item 4 of its Form 8-K dated
September 4, 1997, and we agree with such statements, except that we are not in
a position to agree or disagree with New Horizons Worldwide, Inc.'s statement
that the change was recommended by the Audit Committee of the Board of
Directors.
Very truly yours.
/s/ KPMG PEAT MARWICK LLP
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KPMG Peat Marwick LLP
September 8, 1997
Cleveland, Ohio
