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 10, 1997
INTERNATIONAL FRANCHISE SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-26270 52-1853204
(State of Organization) (Commission File No.) (IRS Employer
Identification Number)
6701 Democracy Boulevard, Suite 300
Bethesda, MD 20817
(Address of principal executive offices)
(301) 897-4870
(Registrant's telephone number, including area code)
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Item 4. Changes in Registrant's Certifying Accountants
Moore Stephens, P.C. was previously the principal accountants for International
Franchise Systems, Inc. On December 10, 1997 that firm's appointment as
principal accountants was terminated. The decision to terminate was approved by
the board of directors and the Company expects to announce it's selection of a
new accounting firm before the first of the year.
In connection with the audits of the two fiscal years ended December 29, 1996,
and the subsequent interim period through December 10, 1997, there were no
disagreements with Moore Stephens, P.C. 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 of the
disagreement.
The audit reports of Moore Stephens, P.C. on the consolidated financial
statements of International Franchise Systems, Inc, and subsidiaries as of and
for the years ended December 29, 1996 and December 31, 1995, 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 Moore
Stephens, P.C. is attached as Exhibit A.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
INTERNATIONAL FRANCHISE SYSTEMS, INC.
Date: December 10, 1997 By: /s/ H. Michael Bush
H. Michael Bush, President
(Principal Executive Officer
and Principal Accounting Officer)
MOORE STEPHENS, P.C.
CERTIFIED PUBLIC ACCOUNTANTS
December 15, 1997
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
We have read the information under Item 4 contained in Form 8-K dated December
10, 1997 of International Franchise Systems, Inc. and agree with the statements
made therein.
Very truly yours,
/s/ Moore Stephens, P.C.
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MOORE STEPHENS, P.C.
Certified Public Accountants
[MOORE STEPHENS, P.C. LETTERHEAD]
