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: June 12, 2001
SUMMIT SECURITIES, INC.
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(Exact name of registrant as specified in its charter)
IDAHO 1-16177 82-0438135
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification Number)
incorporation)
601 W. 1st AVENUE, SPOKANE, WASHINGTON 99201
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (509) 838-3111
NONE
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(Former name or former address, if change since last report)
ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT.
(a) (i) On June 12, 2001, the Registrant ended its audit relationship with
PricewaterhouseCoopers LLP, the Registrant's independent accountants (the
"Former Accountants"). The Registrant has engaged Ernst & Young LLP ("EY")
as its new principal independent accountants effective June 12, 2001.
(ii) The reports of the Former Accountants on the financial statements for
the fiscal years ended September 30, 2000 and 1999 contained no adverse
opinion or disclaimer of opinion, and were not qualified or modified as to
uncertainty or audit scope. The opinion included an explanatory paragraph
for a change in method of accounting for mortgage-backed securities
retained after the securitization of mortgage loans held for sale in
fiscal 1999.
(iii) The decision to engage EY as the principal independent accountant
for the Registrant was approved by the Board of Directors of the
Registrant.
(iv) In connection with its audits for the fiscal years ended September
30, 2000 and 1999 and through the interim period ended March 31, 2001,
there have been no disagreements with the Former Accountants 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 the Former Accountants, would have caused them to make
reference thereto in their report on the financial statements for such
years.
(v) During the fiscal years ended September 30, 2000 and 1999 and through
the interim period ended March 31, 2001, there were no "reportable events"
as defined by Item 304 (a)(1)(v) of Regulation S-K.
(vi) The Registrant has requested that the Former Accountants furnish it
with a letter addressed to the U.S. Securities and Exchange Commission
stating whether or not it agrees with the above statements. A copy of such
letter, dated June 18, 2001, is filed as Exhibit 16.01 to this Form 8-K.
(b) Neither the Registrant nor anyone on its behalf has consulted EY during
the Registrant's two most recent fiscal years, or any subsequent interim
period, prior to its engagement of EY.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
16.01 Letter dated June 18, 2001, from the Registrant's former
principal independent accountant.
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.
SUMMIT SECURITIES, INC.
Date: June 18, 2001 By: /s/ Tom Turner
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Tom Turner,
President
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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Exhibit 16.01 Letter dated June 18, 2001, from the Registrant's
former principal independent accountant.