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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 (date of earliest event reported):
December 18, 2000
Daisytek International Corporation
(Exact Name of Registrant as Specified in Charter)
Delaware 0-25400 75-2421746
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
1025 Central Expressway South, Suite 200
Allen, Texas 75013
(Address of Principal Executive Offices, including zip code)
(972) 881-4700
(Registrant's Telephone Number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
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ITEM 4. CHANGES IN CERTIFYING ACCOUNTANT.
(a) Information Required by Item 304(a)(1) of Regulation S-K.
(i) On December 18, 2000, Daisytek International Corporation
(the "Company"), dismissed Arthur Andersen LLP ("Arthur Andersen") as
the Company's independent public accountants.
(ii) The reports of Arthur Andersen on the Company's
financial statements for the fiscal years ended March 31, 1999 and
March 31, 2000 did not contain any adverse opinion or disclaimer of
opinion, nor were they qualified or modified as to uncertainty, audit
scope or accounting principles.
(iii) The decision to change accountants was recommended by
the Audit Committee of the Board of Directors of the Company, and
approved by the Board of Directors of the Company.
(iv) In connection with the audits of the Company's
financial statements for each of the fiscal years ended March 31, 1999
and March 31, 2000, and in the subsequent interim periods, there were
no disagreements with Arthur Andersen on any matter of accounting
principles or practices, financial statement disclosure or auditing
scope or procedures which, if not resolved to the satisfaction of
Arthur Andersen, would have caused Arthur Andersen to make reference to
such matter in connection with its report.
(v) During the two most recent fiscal years and through the
date of dismissal there have been no reportable events (as defined in
Regulation S-K Item 304(a)(1)(v)).
(b) On December 18, 2000 the Audit Committee of the Board of Directors
recommended the engagement of Ernst & Young LLP ("Ernst & Young") as the
Company's independent public accountants for its fiscal year ending March 31,
2001 and this decision was approved by the Board of Directors of the Company on
December 18, 2000. During the two most recent fiscal years and through the date
of engagement, the Company has not consulted with Ernst & Young on items
regarding either: (1) the application of accounting principles to a specified
transaction, either completed or proposed; (2) the type of audit opinion that
might be rendered on the financial statements; or (3) the subject matter of any
disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K) or reportable
event (as defined in Item 304(a)(1)(v) of Regulation S-K) with the Company's
former auditor.
The Company has furnished Arthur Andersen with a copy of the foregoing
disclosure and requested Arthur Andersen to furnish it with a letter addressed
to the Securities and Exchange Commission stating whether or not it agrees with
the foregoing statements. A copy of the letter of Arthur Andersen to the
Securities and Exchange Commission, dated December 22, 2000, is filed as Exhibit
16 hereto.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired
Not applicable
(b) Pro forma financial information
Not applicable
(c) Exhibits
16 Letter from Arthur Andersen LLP to the Securities and
Exchange Commission dated December 22, 2000.
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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 hereunto duly authorized.
DAISYTEK INTERNATIONAL CORPORATION
By: /s/ RALPH MITCHELL
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Ralph Mitchell
Chief Financial Officer,
Executive Vice President - Finance
Dated: December 22, 2000
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Index to Exhibits
<TABLE>
<CAPTION>
Exhibit
Number Description
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<S> <C>
16 Letter from Arthur Andersen LLP to the Securities and
Exchange Commission dated December 22, 2000 regarding
change in certifying accountant.
</TABLE>
