0-26906 | 22-3388607 | |
(Commission File Number) | (IRS Employer Identification No.) | |
210 Sylvan Avenue, Englewood Cliffs, New Jersey | 07632 | |
(Address of principal executive offices) | (Zip Code) |
(a) | On July 17, 2008, upon recommendation and approval of the Audit Committee of the Board of Directors of Asta Funding, Inc. (the Company), Eisner LLP (Eisner) was dismissed as the Companys independent registered public accounting firm. Eisners reports on the consolidated financial statements of the Company for each of the fiscal years ended September 30, 2007 and September 30, 2006 contained no adverse opinions or disclaimers of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles. During the fiscal years ended September 30, 2007 and September 30, 2006, and the subsequent interim period through July 17, 2008, there were no disagreements between the Company and Eisner 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 Eisner, would have caused it to make reference to the subject matter of the disagreements in connection with its reports. During the fiscal years ended September 30, 2007 and September 30, 2006, and the subsequent interim period through July 17, 2008, there were no reportable events as defined in Item 304 (a)(1)(v) of SEC Regulation S-K, except as described below: |
(b) | On July 17, 2008, upon recommendation and approval of the Audit Committee of the Board of Directors of the Company, Grant Thornton LLP (Grant Thornton) was engaged as the Companys independent registered public accounting firm to audit the Companys financial statements for its fiscal year ending September 30, 2008. During the Companys two most recent fiscal years ended September 30, 2007 and September 30, 2006, and the subsequent interim period through July 17, 2008, the Company did not consult with Grant Thornton regarding either of the following: |
(1) | The application of accounting principles to any specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Companys financial statements, and Grant Thornton did not provide a written report or oral advice on any accounting, auditing or financial reporting issue that Grant Thornton concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue, or | ||
(2) | Any matter that was either subject of a disagreement as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions, or a reportable event, as described in Item 304(a)(1)(v) of Regulation S-K. |
Exhibit No. | Description of Exhibits | |
Exhibit 16.1
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Letter from Eisner LLP to the Commission dated July 23, 2008 |
ASTA FUNDING, INC. |
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Date: July 23, 2008 | By: | /s/ Mitchell Cohen | ||
Mitchell Cohen | ||||
Chief Financial Officer | ||||