UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934
Date of Report (Date of earliest event reported December 15, 2000)
COMMONWEALTH INCOME & GROWTH FUND III
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(Exact name of registrant as specified in its charter)
Pennsylvania 333-26933 23-2895714
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
1160 West Swedesford Road
Berwyn, Pennsylvania 19312
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(Address of principal executive offices)
Registrant's telephone number, including area code (610) 647-6800
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NA
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(Former name or former address, if changed since last report)
Item 1. Not Applicable
Item 2. Not Applicable
Item 3. Not Applicable
Item 4. Changes in Registrant's Certifying Accountants
At a meeting held on December 13, 2000, the Board of Directors of the
Company approved the engagement of BDO Seidmann LLP, at 1700 Market
Street, Philadelphia, PA 19103-3592, as its independent auditors for
the fiscal year ending December 31, 2000. This is to replace the firm
of Ernst & Young LLP, who were dismissed as auditors of the company
effective on December 14, 2000. The audit committee of the Board of
Directors approved the change in auditors on December 13, 2000.
The reports of Ernst & Young LLP on the company's financial
statements for the past two fiscal years did not contain an adverse
opinion or a disclaimer of opinion and were not 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, 1999, 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 a letter addressed to the Commission stating whether it agrees
with the above statements. A copy of that letter, dated December 15th
is filed as Exhibit 1 to this Form 8-K.
Item 5. Not Applicable
Item 6. Not Applicable
Item 7. Not Applicable
Item 8. Not Applicable
Item 9. Not Applicable
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.
Date: December 15, 2000 By: /s/ George Springsteen
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