- -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 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): OCTOBER 30, 1998 KANEB SERVICES, INC. (Exact name of registrant as specified in charter) DELAWARE 001-05083 74-1191271 (State of Organization) (Commission File No.) (I.R.S. Employer Identification No.) 2435 NORTH CENTRAL EXPRESSWAY RICHARDSON, TEXAS 75080 (Address of Principal Executive Offices) (Zip Code) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (972) 699-4000 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT. The Registrant is a Delaware corporation of which Kaneb Pipe Line Company, a Delaware corporation ("KPL") is a wholly owned subsidiary. KPL serves as the general partner of Kaneb Pipe Line Partners, L.P., a Delaware limited partnership ("KPP"). The Registrant's Current Report on Form 8-K dated October 30, 1998 (the "Initial 8-K"), is amended to add the following additional information. By letter dated November 30, 1998, KPMG Peat Marwick LLP ("KPMG Peat Marwick") accepted the engagement to audit the consolidated financial statements of the Registrant and of KPP for the year ending December 31, 1998. Subsequent to the filing of the Initial 8-K, the Registrant had discussions with the Staff of the Securities and Exchange Commission regarding the accounting issue discussed in the Initial 8-K. After discussions with members of the Staff, the Registrant has determined that the most appropriate accounting method is to defer any adjustment of the differential in the carrying value of its units of limited partnership interests in KPP until such time that such investment is disposed of by the Registrant. The resolution of the issue had no material effect on the Registrant's consolidated financial statements. SIGNATURE 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. KANEB SERVICES, INC. By: MICHAEL R. BAKKE Michael R. Bakke, Controller KSI-1