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): March 12, 2004
First Cash Financial Services, Inc.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-19133 75-2237318
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(Commission File Number) (IRS Employer Identification No.)
690 East Lamar Blvd., Suite 400, Arlington, Texas 76011
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(Address of principal executive offices, including zip code)
(817) 460-3947
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(Registrant's telephone number, including area code)
Item 4. Changes to Registrant's Certifying Accountants
On March 12, 2004, First Cash Financial Services, Inc. (the "Company")
notified its independent accountant, Deloitte & Touche LLP, of its dismissal
as principal auditors of the Company for the year ending December 31, 2004.
Effective March 17, 2004, the Company has engaged Hein + Associates LLP to
audit the Company's consolidated financial statements for the year ending
December 31, 2004. The change was the result of a proposal and competitive
bidding process involving several accounting firms. The decision to dismiss
Deloitte & Touche LLP and to retain Hein + Associates LLP was determined by
the Audit Committee of the Company's Board of Directors and endorsed by the
Board of Directors.
Deloitte & Touche LLP's report on the Company's 2003 financial
statements was issued on March 8, 2004 in conjunction with the filing of the
Company's Annual Report on Form 10-K for the year ended December 31, 2003.
Effective April 16, 2004, Deloitte & Touche LLP's services as principal
auditors for the Company for the year ended December 31, 2003 were completed
and terminated.
The audit reports of Deloitte & Touche LLP on the consolidated
financial statements of the Company as of and for the years ended
December 31, 2003, 2002 and 2001, did not contain any adverse opinion
or disclaimer of opinion, nor were they qualified or modified as to
uncertainty, audit scope, or accounting principles, except that the audit
reports for 2002 and 2003 were modified to reflect a change in the Company's
method of accounting for amortization of goodwill in 2002 in accordance with
FASB Statement No. 142, Goodwill and Other Intangible Assets, and except
that the audit report for 2003 was modified to reflect a change in the
Company's method of accounting for its 50% owned joint venture, Cash & Go,
Ltd., in 2003 in accordance with FASB Interpretation 46(R), Consolidation of
Variable Interest Entities. A letter from Deloitte & Touche LLP is attached
as Exhibit 16.1.
During the Company's three most recent years ended December 31, 2003,
and the subsequent interim period through April 16, 2004, there were no
disagreements between the Company and Deloitte & Touche LLP on any matter
of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure (within the meaning of Item 304(a)(1)(iv) of
Regulation S-K) and there were no reportable events (as defined by
Item 304(a)(1)(v) of Regulation S-K).
During the Company's three most recent years ended December 31, 2003,
and the subsequent interim period through March 17, 2004, neither the
Company nor anyone on its behalf consulted with Hein + Associates LLP
regarding any of the matters or events set forth in Item 304(a)(2)(i) and
(ii) of Regulation S-K. Hein + Associates LLP has served as the independent
accountant engaged to audit the First Cash 401(k) Plan for the three most
recent years ended December 31, 2002 and is currently engaged to audit the
First Cash 401(k) Plan for the year ended December 31, 2003.
Item 7. Financial Statements and Exhibits
(a) Financial Statements of Business Acquired.
Inapplicable.
(b) Pro Forma Financial Information.
Inapplicable.
(c) Exhibits
Exhibit Number Exhibit Description
16.1 Letter from Deloitte & Touche LLP to the Securities
and Exchange Commission dated April 23, 2004.
SIGNATURES
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 thereunto duly authorized.
Dated: April 23, 2004 FIRST CASH FINANCIAL SERVICES, INC.
(Registrant)
/s/ R. DOUGLAS ORR
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R. Douglas Orr
Chief Accounting Officer
Exhibit 16.1
April 23, 2004
Securities & Exchange Commission
Mail Stop 11-3
450 5th Street, N.W.
Washington, D.C. 20549
Dear Sirs/Madams:
We have read Item 4 of First Cash Financial Services, Inc.'s Form 8-K/A to
be filed April 23, 2004 and have the following comments:
1. We agree with the statements made in the first sentence of the first
paragraph and the second, third and fourth paragraphs.
2. We have no basis on which to agree or disagree with the statements
made in the second, third and fourth sentences of the first paragraph
and the fifth paragraph.
Yours truly,
/s/ Deloitte & Touche LLP
Fort Worth, Texas