UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) JULY 8, 2002
TECHSYS, INC.
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(Exact name of registrant as specified in its charter)
NEW JERSEY 0-24542 22-3276736
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification Number
147 COLUMBIA TURNPIKE, SUITE 109, FLORHAM PARK, NEW JERSEY 07932
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (973) 236-1919
NOT APPLICABLE
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(Former name or former address, if changed since last report)
INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On July 8, 2002, the Board of Directors of TechSys, Inc. ("the Company") and its
Audit Committee, decided to no longer engage Arthur Andersen LLP ("Arthur
Andersen") as the Company's independent public accountants and engaged Sobel &
Co., LLC to serve as the Company's independent public accountants for the fiscal
year 2002. The appointment of Sobel & Co., LLC is subject to shareholder
ratification at the Company's 2002 Annual Meeting of Stockholders tentatively
scheduled during the third quarter of 2002.
Arthur Andersen's reports on the Company's consolidated financial statements for
each of the years ended 2001, 2000, and 1999 did not contain an adverse opinion
or disclaimer of opinion. Arthur Andersen's reports on the Company's
consolidated financial statements for years ended 2000 and 1999 were not
qualified or modified as to uncertainty, audit scope or accounting principles.
For year ended December 31, 2001, the fourth paragraph of Arthur Andersen's
report on the Company's consolidated financial statements expressed substantial
doubt as to the Company's ability to continue as a going concern.
During the years ended December 31, 2001, 2000, and 1999 and through the date
hereof, there were no disagreements with Arthur Andersen on any matter of
accounting principle or practice, financial statement disclosure, or auditing
scope or procedure which, if not resolved to Arthur Andersen's satisfaction,
would have caused them to make reference to the subject matter in connection
with their report on the Company's consolidated financial statements for such
years; and there were no reportable events as defined in Item 304(a)(1)(v) of
Regulation S-K.
During the years ended December 31, 2001 and 2000 and through the date hereof,
the Company did not consult Sobel & Co. LLC with respect to 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 Company's
consolidated financial statements, or any other matters or reportable events as
set forth in Items 304(a)(2)(i) and (ii) of Regulation S-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS.
(a) FINANCIAL STATEMENTS
None.
(b) PRO FORMA FINANCIAL INFORMATION
None.
(c) Exhibits
None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
TechSys has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TECHSYS, INC.
Date: July 8, 2002 By: ______________________________
Mark N. Raab
Chief Financial Officer