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) May 30, 1997
---------------------
Champion Financial Corporation
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
UTAH 0-19499 88-0169547
- --------------------------------------------------------------------------------
(State of other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
9495 East San Salvador Drive, Scottsdale, Arizona 85258
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (602) 614-4285
-----------------------
<PAGE>
Item 4. Changes in Registrant's Certifying Accountants
Dohan and Company was previously the principal accountants for Champion
Financial Corporation. On May 29, 1997, that firm's appointment as principal
accountants was terminated and KPMG Peat Marwick LLP was engaged as principal
accountants. The decision to change accountants was approved by the board of
directors.
In connection with the audit of the fiscal year ended March 31, 1997, and the
subsequent interim period through May 29, 1997, there were no disagreements with
Dohan and Company on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedures, which disagreements if
not resolved to their satisfaction would have caused them to make reference in
connection with their opinion to the subject matter of the disagreement.
The audit report of Dohan and Company on the financial statements of Champion
Financial Corporation as of and for the year ended March 31, 1996 did not
contain any adverse opinion or disclaimer of opinion, nor were they qualified or
modified as to uncertainty, audit scope, or accounting principles. A letter from
Dohan and Company is attached as Exhibit A.
<PAGE>
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.
CHAMPION FINANCIAL CORPORATION
May 30, 1997 By /s/ Paul F. Caliendo
-------------------------------------
Paul F. Caliendo
President and Chief Executive Officer
<PAGE>
[Dohan and Company Letterhead]
Exhibit A
May 29, 1997
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously principal accountants for Champion Financial Corporation and,
under the date of July 10, 1996, we reported on the financial statements of
Champion Financial Corporation as of and for the year ended March 31, 1996. On
May 29, 1997, our appointment as principal auditors was terminated. We have read
Champion Financial Corporation's statements included under Item 4 of its Form
8-K dated May 29, 1997, and we agree with such statements.
Very truly yours,
/s/ Stan H. Dohan, CPA
Dohan and Company
Commission File Number: 0-19499
