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IFUE > SEC Filings for IFUE > Form 8-K on 8-May-2013All Recent SEC Filings

Show all filings for INTERNATIONAL FUEL TECHNOLOGY INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for INTERNATIONAL FUEL TECHNOLOGY INC


8-May-2013

Changes in Registrant's Certifying Accountant


Item 4.01. Changes in Registrant's Certifying Accountant

(a) Dismissal of Independent Registered Accounting Firm

On May 2, 2013, the Board of Directors of International Fuel Technology, Inc. (the "Company") terminated the engagement of BDO USA, LLP ("BDO") as the Company's independent registered accounting firm. This action effectively dismisses BDO as the Company's independent registered accounting firm for the fiscal year ending December 31, 2012.

BDO's reports on the Company's consolidated financial statements for the fiscal years ended December 31, 2011 and 2010 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles, except that the report included an explanatory paragraph relating to an uncertainty as to the Company's ability to continue as a going concern. Furthermore, during the Company's two most recent fiscal years and through May 8, 2013, there have been no disagreements with BDO on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to BDO's satisfaction, would have caused BDO to make reference to the subject matter of the disagreement in connection with its reports on the Company's consolidated financial statements for such periods.

For the years ended December 31, 2011 and 2010 and through May 8, 2013, there were no "reportable events" as that term is described in Item 304(a)(1)(v) of Regulation S-K.

The Company has provided BDO with a copy of the foregoing disclosure prior to its filing with the Securities and Exchange Commission (the "Commission") and requested that BDO furnish the Company a letter addressed to the Commission stating whether or not it agrees with the statements above and, if not, stating the respects in which it does not agree. A copy of BDO's letter to the Commission will be attached as an exhibit to an amendment to this current report on Form 8-K once the Company receives it from BDO.

(b) Engagement of New Independent Registered Accounting Firm

On May 8, 2013, the Company's Board of Directors appointed Malone Bailey LLP ("Malone Bailey") as the Company's new independent registered accounting firm. During the Company's two most recent fiscal years and through May 8, 2013, neither the Company nor anyone acting on the Company's behalf consulted Malone Bailey with respect to any of the matters or reportable events set forth in Item 304(a)(2)(i) and (ii) of Regulation S-K.


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