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 8, 2005
INVESTMENT ASSOCIATES, INC.
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(Exact name of registrant as specified in its charter)
Nevada
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(State of Incorporation)
000-28053
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(Commission File Number)
98-0204280
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(I.R.S. Employer Identification Number)
Suite 810
1708 Dolphin Avenue
Kelowna, British Columbia
V1Y 9S4
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(Address of principal executive offices, including zip code)
(250) 868-8177
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(Registrant's telephone Number, including area code)
INFORMATION TO BE INCLUDED IN THE REPORT
Section 4 - Matters Related to Accountants and Financial Statements
Item 4.01 - Changes in Registrant's Certifying Accountant
Investment Associates, Inc. (the "Registrant") has engaged new auditors as its
independent accountants to audit its financial statements. The former auditors,
Cordovano & Honeck, LLP resigned as auditors of the Registrant on December 5,
2005 and on December 5, 2005, the Registrant's board of directors approved the
change of independent accountants and appointed Williams & Webster, P.S. as its
independent accountants.
During the years ended September 30, 2003 and September 30, 2004, there were no
disagreements with the Registrant's former accountants, Cordovano & Honeck, LLP,
on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure.
During the years ended September 30, 2003 and September 30, 2004, the
Registrant's former accountant's report on the Registrant's financial statements
contained the qualification that the Registrant's financial statements were
prepared assuming that the Registrant will continue as a going concern. Given
that the Registrant has suffered losses from operations and the satisfaction of
liabilities and commitments are dependent upon the Registrant's ability to meet
its future financing requirements and the success of its future operations,
there is substantial doubt about the Registrant's ability to continue as a going
concern. The Registrant's financial statements do not include any adjustments
that might result from the outcome of this uncertainty. Other than the
qualification regarding uncertainty of the Registrant's ability to continue as a
going concern, the Registrant's former accountant's report on the Registrant's
financial statements did not contain an adverse opinion, a disclaimer of opinion
or qualification or modification as to uncertainty, audit scope or accounting
principles.
The Registrant has provided Cordovano & Honeck, LLP with a copy of this Current
Report on Form 8-K prior to its filing with the SEC, and requested that they
furnish the Registrant with a letter addressed to the SEC stating whether they
agree with the statements made in this Current Report on Form 8-K, and if not,
stating the aspects with which they do not agree. A copy of the letter provided
by Cordovano & Honeck, LLP, dated December 8, 2005, is attached to this Form 8-K
as an exhibit.
The Registrant has engaged the firm of Williams & Webster, P.S. as of December
5, 2005. During the years ended September 30, 2003 and September 30, 2004,
Williams & Webster, P.S. was not consulted on any matter relating to accounting
principles to a specific completed or proposed transaction or the type of audit
opinion that might be rendered on our financial statements. During the years
ended September 30, 2003 and September 30, 2004,Williams & Webster, P.S. did not
provide any written or oral advice that was an important factor considered by it
in reaching any decision as to accounting, auditing or financial reporting
issues.
Section 9 - Financial Statements and Exhibits
Item 9.01 - Financial Statements and Exhibits
(a) Financial Statements of Business(es) Acquired
Not Applicable
(b) Pro forma Financial Information
Not Applicable
(c) Exhibits
16 Letter from Former Accountant
SIGNATURES
Pursuant to the requirements of the Securities and 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 8, 2005 Investment Associates, Inc.
Per: /s/ Steven N. Khan
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Steven N. Khan,
President and Director