Item 4.01 Changes in Registrant’s Certifying Accountant.
(a) Previous Independent Registered Public Accounting Firm:
On September 14, 2006, the AFGWU Local 1028 401(k) Retirement Plan for Employees of AVX Corporation in Raleigh, North Carolina (the “Plan”) dismissed PricewaterhouseCoopers LLP (“PwC”) as the Plan’s independent registered public accounting firm. The dismissal was approved by the Plan’s 401(k) Committee.
The reports of PwC on the Plan’s financial statements for the years ended December 31, 2004 and 2003 contained no adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principle.
During the years ended December 31, 2004 and 2003 and through September 14, 2006, there have been no disagreements with PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of PwC would have caused PwC to make reference thereto in its reports on the Plan’s financial statements for such years.
During the years ended December 31, 2004 and 2003 and through September 14, 2006, there have been no “reportable events,” as that term is defined in Item 304 (a)(1)(v) of Regulation S-K, with respect to the Plans.
The change in the accounting firm described above pertains only to the financial statements of the Plan and does not affect PwC’s engagement as the independent registered public accounting firm of AVX Corporation for its fiscal year ending March 31, 2007.
The Plan provided a copy of the above disclosures to PwC and requested that PwC furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the aforementioned statements. A copy of the letter furnished by PwC in response to that request is filed as Exhibit 16.1 to this Form 8-K.
(b) New Independent Registered Public Accounting Firm:
On September 14, 2006, the Plan’s 401(k) Committee appointed Grant Thornton LLP (“Grant Thornton”) as the Plans new independent registered public accounting firm for the year ended December 31, 2005. During the years ended December 31, 2004 and 2003, and through September 14, 2006, the Plan has not consulted with Grant Thornton regarding either: (i) the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that might be rendered on the Plans’ financial statements, and Grant Thornton did not provide a written report or oral advice to the Plan which Grant Thornton concluded was an important factor considered by the Plan in reaching a decision as to the accounting, auditing or financial reporting issue, or (ii) any matter that was either the subject of a disagreement, as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K, or a reportable event, as that term is defined in Item 304 (a)(1)(v) of Regulation S-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
