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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K/A
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) AUGUST 31, 2001
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TEAM, INC.
(Exact name of registrant as specified in its charter)
TEXAS
(State of incorporation)
0-9950 74-1765729
(Commission File Number) (I.R.S. Employer
Identification No.)
200 HERMANN DRIVE, ALVIN, TEXAS 77511
(Address of principal executive offices) (Zip Code)
281-331-6154
(Registrant's Telephone Number, Including Area Code)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
Effective August 31, 2001, the Company determined to change its independent
auditor. Deloitte & Touche audited the financial statements for the fiscal years
2001 and 2000 and expressed an unqualified opinion thereon. The decision to
change auditors has been approved by the Audit Committee of the Board of
Directors.
There have been no disagreements with Deloitte & Touche on any matter of
accounting principles or practices, financial statement disclosure or auditing
scope or procedure during the past two fiscal years nor during the interim
period ending August 31, 2001. Additionally, there have been no reportable
events, as defined by item 304 (a)(1)(v) of Regulation S-K during the same
periods.
A letter from the former accountant, addressed to the Securities and Exchange
Commission, expressing agreement with the above statement is filed as an exhibit
to this Form 8-K.
The Company's Board of Directors has approved, subject to shareholder
ratification, the selection of Arthur Andersen LLP as the Company's auditor for
the fiscal year ending May 31, 2002. There has been no consultation during the
past two fiscal years nor during the interim period ended August 31, 2001 by the
Company with Arthur Andersen LLP regarding the application of accounting
principles or the type of audit opinion that might be rendered on the Company's
financial statements.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit # Description
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(16) Letter dated October 3, 2001 to SEC from Deloitte & Touche re:
change in 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.
TEAM, INC.
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(Registrant)
/S/ Ted W. Owen
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Ted W. Owen
Vice President and CFO
(Principal Accounting Officer)
Date: October 5, 2001
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EXHIBIT INDEX
Exhibit
Number Description
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16 Letter dated October 3, 2001 to SEC from Deloitte & Touche re:
change in accountant.