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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: September 25, 2001
ORIENTAL FINANCIAL GROUP INC.
(Exact Name of Registrant as Specified in its Charter)
Commonwealth of Puerto Rico 001-12647 66-0538893
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(State or other (Commission File No.) (I.R.S. Employer
Jurisdiction of Incorporation) Identification No.)
Monacillos Ward
1000 San Roberto Street
San Juan, Puerto Rico 00926
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (787) 771-6800
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
The Board of Directors of Oriental Financial Group Inc. (the "Company")
requested and obtained proposals from several accounting firms in Puerto Rico,
including PricewaterhouseCoopers LLP ("PWC"), in connection with the Company's
annual and quarterly financial statements for each of the three fiscal years in
the period ending June 30, 2004. After reviewing and considering each proposal,
the Audit Committee recommended to the Board of Directors the appointment of
Deloitte & Touche ("D&T") as the Company's independent auditors for fiscals
2002, 2003 and 2004. On September 25, 2001, the Board of Directors accepted such
recommendation and appointed D&T as the Company's independent auditors for
fiscals 2002, 2003 and 2004. This decision was based on the amount of fees
quoted by each firm and the scope of services to be provided.
PWC's report on the Company's financial statements for each of the past
two fiscal years did not contain an adverse opinion or a disclaimer of opinion,
nor was qualified or modified as to uncertainty, audit scope or accounting
principles. During such two-year period and the current interim period through
September 25, 2001, there were no disagreements between the Company and PWC on
any matter of accounting principles or practices, financial statement
disclosure, or audit scope or procedure, which disagreements, if not resolved to
PWC's satisfaction, would have caused them to make reference to such
disagreements in their reports on the financial statements for such years.
The Company has requested PWC to furnish a letter addressed to the
Securities and Exchange Commission stating whether or not it agrees with the
statements made by the Company herein. Upon receipt of such letter, the Company
intends to file it as an exhibit to this report.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ORIENTAL FINANCIAL GROUP INC.
Date: September 25, 2001 By: /s/ Jose Enrique Fernandez
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Jose Enrique Fernandez
Chairman of the Board of Directors,
President and Chief Executive Officer