<PAGE> 1
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
OCTOBER 18, 1996
(Date of Report - Date of earliest event reported)
1-12282
Commission File Number
CORRPRO COMPANIES, INC.
(Exact name of registrants as specified in its charter)
OHIO 34-1422570
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1090 ENTERPRISE DRIVE, MEDINA, OHIO 44256
(Address of principal executive offices) (Zip code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (330) 723-5082
<PAGE> 2
Item 4. Changes in Registrant's Certifying Accountant
---------------------------------------------
On October 18, 1996, Price Waterhouse LLP ("PW") resigned as the
independent accountants of Corrpro Companies, Inc. ("the Registrant"). The
Registrant is currently in the process of selecting independent accountants
for its fiscal year ending March 31, 1997 and has solicited proposals from
several auditing firms.
The reports of PW on the Registrant's financial statements for each of
the past two fiscal years contained no adverse opinions or disclaimer of opinion
and were not qualified or modified as to uncertainty, audit scope or accounting
principle, except that the report of PW on the financial statements for the
fiscal year ended March 31, 1995 included an explanatory paragraph relating to a
material uncertainty regarding litigation.
In connection with its audits for the two most recent fiscal years and
through October 18, 1996, there have been no disagreements between the
Registrant and PW on any matter of accounting principle or practices, financial
statement disclosure, or auditing scope or procedure, which disagreements if not
resolved to the satisfaction of PW would have caused them to make reference
thereto in their report on the financial statements for such years.
During the fiscal year ended March 31, 1996 and through October 18,
1996, there have been no reportable events as defined in Regulation S-K Item
304(a)(1)(v). In connection with the audit of the Registrant's financial
statements for the fiscal year ended March 31, 1995, PW advised the Audit
Committee of the Registrant that it was no longer able to rely upon the
representations of the Registrant's then Chief Financial Officer ("former CFO").
The Audit Committee immediately caused the former CFO to be placed on leave of
absence. The former CFO was subsequently discharged and replaced.
The Registrant has provided PW with a copy of the above disclosures
which the Registrant is making in response to Item 304(a) of Regulation S-K and
has requested that PW furnish it with a letter addressed to the Securities and
Exchange Commission stating whether or not it agrees with such disclosures. A
copy of such letter dated October 25, 1996, is filed as Exhibit 1 to this Form
8-K.
<PAGE> 3
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.
CORRPRO COMPANIES, INC.
(Registrant)
Date: October 25, 1996 /s/ Neal R. Restivo
-------------------------------
Neal R. Restivo
Senior Vice President and
Chief Financial Officer
<PAGE> 1
October 25, 1996 Exhibit 1
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Ladies and Gentlemen:
Corrpro Companies, Inc.
-----------------------
We have read Item 4 of Corrpro Companies, Inc. Form 8-K dated October 25, 1996,
and are in agreement with the statements contained therein.
Yours very truly,
PRICE WATERHOUSE LLP
