Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
MDCI > SEC Filings for MDCI > Form 8-K on 16-Nov-2012All Recent SEC Filings

Show all filings for MEDICAL ACTION INDUSTRIES INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for MEDICAL ACTION INDUSTRIES INC


16-Nov-2012

Changes in Registrant's Certifying Accountant, Financial Statements


Item 4.01 Changes in Registrant's Certifying Accountant

(a) Prior independent registered public accounting firm

On November 12, 2012, the Audit Committee of the Board of Directors of Medical Action Industries Inc. (the "Company") approved the dismissal of Grant Thornton LLP ("Grant Thornton") as the Company's independent registered public accounting firm. The Company informed Grant Thornton of its dismissal on November 13, 2012. The decision to dismiss Grant Thornton was effective as of the date of notification of dismissal.

Grant Thornton's reports on the consolidated financial statements of the Company for the fiscal years ended March 31, 2012 and 2011 contained no adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles. During the Company's two most recent fiscal years ended March 31, 2012 and 2011 and from April 1, 2012 through November 13, 2012, (a) there were no disagreements with Grant Thornton 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 Grant Thornton, would have caused it to make reference to the subject matter of the disagreements in its reports on the consolidated financial statements of the Company for such years; and (b) there were no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K.

The Company has provided Grant Thornton with a copy of this Form 8-K prior to its filing with the Securities and Exchange Commission ("SEC") and requested Grant Thornton to furnish the Company with a letter addressed to the SEC stating whether or not Grant Thornton agrees with the above statements. A copy of Grant Thornton's letter dated November 14, 2012 is attached hereto as Exhibit 16.1 to this Form 8-K.

(b) New independent registered public accounting firm

On November 12, 2012, the Audit Committee approved the engagement of KPMG LLP ("KPMG") as the Company's independent registered public accounting firm for the fiscal year ending March 31, 2013. During the Company's two most recent fiscal years ended March 31, 2012 and 2011 and from April 1, 2012 through November 13, 2012, neither the Company nor anyone on its behalf consulted KPMG regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's consolidated financial statements, and no written report or oral advice was provided to the Company that KPMG concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii) any matter that was the subject of a disagreement or reportable event as defined in Regulation S-K, Item 304(a)(1)(iv) and Item 304(a)(1)(v), respectively.

During the two years ended March 31, 2012 and 2011 and from April 1, 2012 through the engagement of KPMG as the Company's independent registered public accounting firm, KPMG had been engaged by the Company to provide the Company with consulting services, including assistance with its assessment of the potential impact of the medical device excise tax, effective as of January 1, 2013. In approving the selection of KPMG as the Company's independent registered public accounting firm, the Audit Committee considered these services previously provided by KPMG and concluded that such services would not adversely affect the independence of KPMG.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

(16.1) Letter of Grant Thornton LLP dated November 14, 2012 to the Securities and Exchange Commission regarding statements included in this Form 8-K.


  Add MDCI to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for MDCI - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.