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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 26, 1998
QUINTILES TRANSNATIONAL CORP.
(Exact name of registrant as specified in its charter)
North Carolina 340-23520 56-1714315
(State or other jurisdiction (Commission File No.) I.R.S. Employer
of incorporation) Identification Number
4709 Creekstone Drive, Riverbirch Building, Suite 200,
Durham, North Carolina 27703-8411
(Address of principal executive offices)
(919) 941-2000
(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 is hereby replaced as follows:
Item 4. Changes in Registrant's Certifying Accountant
The Audit and Executive Committees of the Board of Directors of
Quintiles Transnational Corp. (the "Company") have approved the engagement of
Arthur Andersen LLP as the Company's independent public accountants for the year
ended December 31, 1998, to replace Ernst & Young LLP. Ernst & Young LLP was
notified on February 26, 1998 that the Company was changing independent public
accountants.
The audit reports of Ernst & Young LLP on the consolidated
financial statements of the Company for the years ended December 31, 1996 and
1997 did not contain any adverse opinion or disclaimer of opinion, nor were they
qualified or modified as to uncertainty, audit scope or accounting principles.
In connection with the audits of the Company's financial
statements for each of the two fiscal years ended December 31, 1997 and in the
subsequent interim period, there were no disagreements with Ernst & Young LLP on
any matters of accounting principles or practices, financial statement
disclosure, or auditing scope and procedures which, if not resolved to the
satisfaction of Ernst & Young LLP would have caused Ernst & Young LLP to make
reference to the matter in their report. The Company has requested Ernst & Young
LLP to furnish it with a letter to the Securities and Exchange Commission
stating whether it agrees with the above statements. A copy of that letter,
dated March 20, 1998 is filed herewith as Exhibit 16.01.
During the last two fiscal years and the subsequent interim
period preceding February 26, 1998, the Company did not consult Arthur Andersen
LLP regarding any of the matters or events set forth in Regulation S-K Item
304(a)(2)(i) and (ii).
Item 7 is hereby replaced as follows:
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description of Exhibit
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16.01 Letter of Ernst & Young LLP
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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.
QUINTILES TRANSNATIONAL CORP.
By: /s/ Rachel R. Selisker
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Dated: March 20, 1998 Rachel R. Selisker
Chief Financial Officer and Executive Vice
President Finance
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EXHIBIT INDEX
Exhibit No. Description of Exhibit
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16.01 Letter of Ernst & Young LLP
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EXHIBIT 16.01
[Ernst & Young LLP Letterhead]
March 20, 1998
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Ladies and Gentlemen:
We have read Item 4 of Form 8-K/A dated February 26, 1998 of Quintiles
Transnational Corp. and are in agreement with the statements contained in the
first three paragraphs on page 2 therein. We have no basis to agree or disagree
with other statements of the registrant contained therein.
/s/ ERNST & YOUNG LLP
