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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: February 11, 1997
INTERNATIONAL TOURIST ENTERTAINMENT CORPORATION
Commission File No. 0-21070
U.S. Virgin Islands 66-0426648
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(State of Incorporation) (IRS Employer
Identification No.)
7030 Park Centre Drive
Salt Lake City, Utah 84121
(801) 566-9000
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Item 1-3. Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant
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a. On February 11, 1997, the Registrant dismissed
KPMG Peat Marwick LLP Salt Lake City, Utah, the principal
accountant previously engaged to audit the Registrant's
financial statements. No audit of the Registrant's
financial statements has been performed for the fiscal year
ended June 30, 1996. The accountant's report on the
Registrant's financial statements for the fiscal year ended
June 30, 1995 contained a going concern explanatory
paragraph. The Board of Directors of the Registrant has
approved the change of accountants,
There have been no disagreements between the Registrant
and the former accountant on any matter of accounting
principles or practices, financial statement disclosure, or
auditing scope or procedure in connection with the audits of
the two years ended June 30, 1995 or any subsequent period
preceding the change described herein.
The Registrant has requested the former accountant to
furnish the Registrant a letter addressed to the Securities
and Exchange Commission stating whether it agrees with the
statements made by the Registrant in response to this item,
and if not, stating the respects in which it does not agree.
(b) On February 12, 1997, the Registrant engaged
Tanner & Company, Salt Lake City, Utah, as the principal
accountant to audit the Registrant's financial statements.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(a.) & (b.) No financial statements or pro forma
financial information is filed with this report.
(c.) Exhibits
Exhibit No.
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16.1 Letters from KPMG Peat Marwick LLP regarding
change in certifying accountant as required by
Item 304a(3).
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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 thereunto duly
authorized.
INTERNATIONAL TOURIST
ENTERTAINMENT CORPORATION
Date: 2/18/97 By /S/ Kelvyn H. Cullimore
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Kelvyn H. Cullimore, President
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February 11, 1997
Mr. John Hales, Chief Financial Officer
International Tourist Entertainment Corporation
7030 Park Centre Drive
Salt Lake City, UT 84121
Dear Mr. Hales:
This is to confirm that the client-auditor relationship
between International Tourist Entertainment Corporation and
KPMG Peat Marwick LLP has ceased.
For your convenience in acknowledging these arrangements, we
have enclosed a copy of this letter. Please sign and return
it to us in the self-addressed envelope provided.
Very truly yours,
KPMG Peat Marwick LLP
/s/ S. Craig Omer
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S. Craig Omer, Partner
Enclosure
cc: Chief Accountant
Securities and Exchange Commission
Acknowledged By:
INTERNATIONAL TOURIST ENTERTAINMENT CORPORATION
/s/ Bob Cardon
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Authorized Signature
Corporate Secretary
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Title
2/18/97
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Date
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February 18, 1997
Securities and Exchange Commission
Washington, DC 20549
Ladies and Gentlemen:
We were previously principal accountants for International
Tourist Entertainment Corporation (the Company) and, under
the date of August 11, 1995, we reported on the financial
statements of International Tourist Entertainment
Corporation as of and for the years ended June 30, 1995 and
1994. On February 11, 1997, our appointment as principal
accountants was terminated. We have read the statements
included under Item 4 of the Company's Form 8-K dated
February 11, 1997, and we agree with such statements, except
that we are not in a position to agree or disagree with the
Company's statement that the change was approved by the
board of directors, nor are we in a position to agree or
disagree with the Company's statement that on February 12,
1997, Tanner & Company was engaged as the principal
accountant to audit the Company's financial statements.
Very truly yours,
/s/ KPMG Peat Marwick LLP
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KPMG Peat Marwick LLP
