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) September 3, 1997
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American Skandia Life Assurance Corporation
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(Exact Name of Registrant as Specified in Its Charter)
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Connecticut
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(State or Other Jurisdiction of Incorporation)
33-44202 06-1241288
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(Commission File Numbers) (IRS Employer Identification No.)
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One Corporate Drive, Shelton, Connecticut 06484
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(Address of Principal Executive Offices) Zip Code
(203) 926-1888
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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Item 1. Changes in Control of Registrant.
Not Applicable
Item 2. Acquisition or Disposition of Assets.
Not Applicable
Item 3. Bankruptcy or Receivership.
Not Applicable
Item 4. Changes in Registrant's Certifying Accountant.
American Skandia Life Assurance Corporation ("ASLAC") is the indirect wholly
owned subsidiary of Skandia Insurance Company Ltd. ("SICL") (ASLAC having issued
no publicly held securities). SICL is organized under the laws of and domiciled
in Sweden. SICL, by vote of its shareholders on May 6, 1997, changed auditors,
effective May 6, from Deloitte & Touche LLPC ("Deloitte & Touche") to Ernst &
Young LLP ("Ernst & Young"). SICL requested management of ASLAC to likewise
appoint Ernst & Young to conduct the audit of ASLAC's financial statements for
1997. After review, the Audit Committee of the Board of Directors of ASLAC
recommended the proposed change of accountants be effected. As of September 3,
1997, (a) Ernst & Young will commence its engagement as principal accountant to
audit ASLAC's financial statements, (b) Deloitte & Touche LLP ("Deloitte &
Touche") will cease to serve as ASLAC's independent accountants.
Deloitte & Touche's report on ASLAC's financial statements for each of the years
ended December 31, 1996 and 1995 did not contain an adverse opinion or a
disclaimer of opinion, nor were its opinions qualified or modified as to
uncertainty, audit scope, or accounting principles.
During ASLAC's two most recent fiscal years, and the subsequent interim periods
preceding the discontinuance of their services, there were no disagreements with
Deloitte & Touche on any matters of accounting principles or practices,
financial statement disclosure, or auditing scope or procedures, which, if not
resolved to the satisfaction of Deloitte & Touche, would have caused it to make
reference to the subject matter of the disagreement(s) in connection with its
report(s).
During ASLAC's two most recent fiscal years, and all subsequent interim periods
preceding the discontinuance of the services of Deloitte & Touche, no event
occurred of the nature described in Item 304(a) (1) (v) (A) through (D) of
Regulation S-K.
ASLAC provided Deloitte & Touche with a copy of this report on Form 8-K as
required by Item 304(a)(3) of Regulation S-K.
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Item 5. Other Events.
Not Applicable
Item 6. Resignations of Registrant's Directors.
Not Applicable
Item 7. Financial Statements and Exhibits.
Not Applicable
Item 8. Change in Fiscal Year.
Not Applicable
Item 9. Sales of Equity Securities Pursuant to Regulation S.
Not Applicable
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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.
American Skandia Life Assurance Corporation
(Registrant)
By: /s/Thomas M. Mazzaferro
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Thomas Mazzaferro
Executive Vice President
and Chief Financial Officer
Date: September 9, 1997
Letter of Deloitte & Touche
EXHIBIT INDEX
September 5, 1997
Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, NW
Washington DC 20549
Dear Sirs/Madams:
We have read and agree with the comments in Item 4 of Form 8-K of American
Skandia Life Assurance Corporation dated September 3, 1997.
Yours truly,
By: /s/Deloitte & Touche LLP
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Deloitte & Touche LLP
