<SEC-DOCUMENT>0000892917-11-000042.txt : 20110317
<SEC-HEADER>0000892917-11-000042.hdr.sgml : 20110317
<ACCEPTANCE-DATETIME>20110317172205
ACCESSION NUMBER:		0000892917-11-000042
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110311
ITEM INFORMATION:		Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
FILED AS OF DATE:		20110317
DATE AS OF CHANGE:		20110317

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BARRETT BUSINESS SERVICES INC
		CENTRAL INDEX KEY:			0000902791
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-HELP SUPPLY SERVICES [7363]
		IRS NUMBER:				520812977
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21886
		FILM NUMBER:		11695923

	BUSINESS ADDRESS:	
		STREET 1:		8100 NE PARKWAY DRIVE
		STREET 2:		SUITE 200
		CITY:			VANCOUVER
		STATE:			WA
		ZIP:			98662
		BUSINESS PHONE:		(800) 494-5669

	MAIL ADDRESS:	
		STREET 1:		8100 NE PARKWAY DRIVE
		STREET 2:		SUITE 200
		CITY:			VANCOUVER
		STATE:			WA
		ZIP:			98662
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>bbsi8k110317.htm
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">UNITED
STATES</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">SECURITIES AND
EXCHANGE COMMISSION</font></p>

<p align=center style="margin:0in;margin-bottom:6.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Washington,   D.C. 20549<br>
___________________________</font></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">FORM
8&#8209;K</font></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">CURRENT
REPORT</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Pursuant to Section
13 or 15(d) of</font></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">the
Securities Exchange Act of 1934</font></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Date
of Report (Date of earliest event reported):</font></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">March
11, 2011</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">BARRETT BUSINESS
SERVICES, INC.</font></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(Exact
name of registrant as specified in charter)</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Maryland</font></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(State
or other jurisdiction of incorporation)</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">0-21886</font></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(SEC
File Number)</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">52-0812977</font></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(IRS
Employer Identification No.)</font></p>

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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">8100 N.E. Parkway Drive, Suite 200</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">Vancouver, Washington</font></p>
  </td>
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  98662</font></p>
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  Code)</font></p>
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Registrant&#8217;s
telephone number, including area code:</font></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(360)
828-0700</font></p>

<p style="margin:0in;margin-bottom:6.0pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Check the
appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:</font></p>

<p style="margin:0in;margin-bottom:6.0pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#61608;&#160; Written communications
pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font></p>

<p style="margin:0in;margin-bottom:6.0pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#61608;&#160; Soliciting material
pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style="margin:0in;margin-bottom:6.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#61608;&#160; Pre-commencement communications
pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17&nbsp;CFR
240.14d-2(b))</font></p>

<p style="margin:0in;margin-bottom:6.0pt;margin-left:.25in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#61608;&#160; Pre-commencement communications
pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17&nbsp;CFR
240.13e-4(c))</font></p>





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<P style="MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">On March 11, 2011, the Audit Committee of the Board of Directors of Barrett Business Services, Inc. (the &#147;Company&#148;), determined that the Company&#146;s previously issued financial statements (i) for the fiscal years ended December 31, 2006, 2007, 2008 and 2009, as presented in its Annual Report on Form 10-K for the year ended December 31, 2009, and (ii) as of and for the quarters ended March 31, 2010, June 30, 2010 and September 30, 2010, as presented in the Company&#146;s Quarterly Reports on Form 10-Q for those periods, can no longer be relied upon.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">The Audit Committee reached this conclusion after the Company&#146;s management informed the committee that management had concluded that a change in accounting method for legal expenses incurred for the administration of workers&#146; compensation claims by the Company's captive insurance subsidiary should be made and that the financial statements for all periods beginning January 1, 2007 should be restated to reflect the effect of this change. The Company is also evaluating the preferability of making a conforming change to its accounting method for legal expenses incurred for the administration of workers&#146; compensation claims that arose prior to the formation of the insurance captive subsidiary.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">The Company&#146;s historical accounting method for legal expenses incurred for workers&#146; compensation claims administration has been to recognize the expense in the period incurred.&nbsp; The correction and potential change in accounting method, as discussed above, would reflect estimated legal expenses in the Company's liability for open workers' compensation claims, as well as incurred but not reported claims.&nbsp; We estimate the increase to the workers&#146; compensation liability resulting from these changes to be approximately $8.2 million at December 31, 2010 and 2009. Based on the retroactive application of the correction of the error and the change in accounting method, we estimate the impact on the results of operations for each of the years ended December 31, 2006 through December 31, 2010 will not be material.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">The adjustments required by the aforementioned change in accounting for legal expenses will be included within the Company&#146;s annual report on Form 10-K for the fiscal year ended December 31, 2010, which the Company intends to file with the Securities and Exchange Commission no later than March 31, 2011.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Management has further determined that, as a result of the issues described above, </FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">the Company's internal control over financial reporting was not effective as of December 31, 2010.&nbsp;&nbsp;During the quarter ended March 31, 2011, the Company has implemented changes in its control processes, which it believes has remediated the control deficiencies in its financial reporting.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">The Audit Committee of the Board of Directors of the Company has discussed the matters disclosed in this Item 4.02 with the Company&#146;s independent registered public accounting firm, Moss Adams LLP.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">Forward Looking Statements:</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman"></FONT></B>&nbsp;</P>
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<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">The
foregoing information regarding the evaluation of possible changes in
accounting treatment includes forward-looking statements that are subject to
risks and uncertainties. Additional considerations and other important risk
factors affecting the Company's business are described in the Company's reports
on Forms 10-K and 10-Q and other filings with the Securities and Exchange
Commission.&#160; The forward-looking statements in this report speak only as of the
date hereof.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">SIGNATURES</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">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.</font></p>

<div align=center>

<table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
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  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=bottom width=54% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:12.0pt;">BARRETT
  BUSINESS SERVICES, INC.<br>
  <br>
  </font></p>
  </td>
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<tr style="page-break-inside:avoid;">
  <td valign=bottom width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:12.0pt;"><br>
  Dated:&#160; March 17, 2011</font></p>
  </td>
 <td valign=bottom width=11% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:12.0pt;">By:&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:12.0pt;">/s/ James
  D. Miller</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=35% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=11% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=6% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=48% style="padding:0in 0in 0in 0in;">
  <p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:2.0pt;"><font face="Times New Roman" style="font-size:12.0pt;">James D. Miller<br>
  Vice President-Finance, Treasurer and Secretary</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

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