<SUBMISSION>
<ACCESSION-NUMBER>0000950153-02-000554
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20020318
<ITEMS>4
<ITEMS>7
<FILING-DATE>20020325
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ACTION PERFORMANCE COMPANIES INC
<CIK>0000892147
<ASSIGNED-SIC>5090
<IRS-NUMBER>860704792
<STATE-OF-INCORPORATION>AZ
<FISCAL-YEAR-END>0930
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-11866
<FILM-NUMBER>02584385
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>4707 E BASELINE RD
<CITY>PHOENIX
<STATE>AZ
<ZIP>85040
<PHONE>6023373700
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>4707 E BASELINE RD
<CITY>PHOENIX
<STATE>AZ
<ZIP>85040
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>p66360e8-k.htm
<DESCRIPTION>8-K
<TEXT>
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<P align="center"><FONT size="3"><B>SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B>
</FONT>

<P align="center"><FONT size="3"><B>Form&nbsp;8-K</B>
</FONT>

<P align="center"><FONT size="3"><B>CURRENT REPORT<BR>
PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B>
</FONT>

<P align="center"><FONT size="2">Date of report (Date of earliest event reported): <B>March&nbsp;18, 2002</B>
</FONT>

<P align="center"><FONT size="3"><B>ACTION PERFORMANCE COMPANIES, INC.</B><BR>
(Exact name of registrant as specified in its charter)
</FONT>

<P align="center"><FONT size="2">Commission File No.: <B>0-21630</B>
</FONT>

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        <TD align="center" valign="top"><FONT size="2"><B>Arizona</B><BR>
(State or other jurisdiction of<BR>
incorporation or jurisdiction)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>86-0704792</B><BR>
(IRS Employer Identification No.)</FONT></TD>
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        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
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<TR><TD><TR><TD><TR><TD><TR><TD>
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        <TD align="center" valign="top"><FONT size="2"><B>4707 E. Baseline Road<BR>
Phoenix, Arizona</B><BR>
(Address of principal<BR>
executive offices)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>85042</B><BR>
(Zip Code)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">Registrant&#146;s telephone number, including area code: <B>(602)&nbsp;337-3700</B>
</FONT>

<P align="center"><FONT size="2">&nbsp;</FONT>

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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">Item&nbsp;4. Changes in Registrant&#146;s Certifying Accountant</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">Item&nbsp;7. Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">Exhibit Index</A></TD></TR>
<TR><TD colspan="9"><A HREF="p66360ex16.txt">EX-16</A></TD></TR>
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<!-- link1 "Item&nbsp;4. Changes in Registrant&#146;s Certifying Accountant" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;4. Changes in Registrant&#146;s Certifying Accountant</B>
</FONT>

<P><FONT size="2">On March&nbsp;18, 2002, Action Performance Companies, Inc. (the &#147;Company&#148;) dismissed
Arthur Andersen LLP as its independent public accountants and, effective March
22, 2002, engaged the accounting firm of PricewaterhouseCoopers LLP as its new
independent public accountants. The decision to change the Company&#146;s
accounting firm was recommended and approved by the Company&#146;s Audit Committee
of the Board of Directors and approved by the Company&#146;s Board of Directors.
</FONT>
<P><FONT size="2">During the two most recent fiscal years ended September&nbsp;30, 2001 and 2000, and
the subsequent interim reporting periods from the last audit date of September
30, 2001, through and including the termination date of March&nbsp;18, 2002, there
were no disagreements between the Company and Arthur Andersen LLP on any matter
of accounting principles or practices, financial statement disclosure,
accounting scope or procedure, or any reportable events as defined in
Regulation&nbsp;S-K Item&nbsp;304(a)(1)(v).
</FONT>
<P><FONT size="2">The report of Arthur Andersen LLP on the financial statements of the Company
for the past two fiscal years ended September&nbsp;30, 2001 and 2000, contained no
adverse opinion or disclaimer of opinion and was not qualified or modified as
to uncertainty, audit scope, or accounting principles.
</FONT>
<P><FONT size="2">The Company has not consulted with PricewaterhouseCoopers LLP during the last
two fiscal years ended September&nbsp;30, 2001 and 2000, or during the subsequent
period through and including the date of their engagement, March&nbsp;22, 2002, on
either the application of accounting principles to a specified transaction,
either completed or proposed; or the type of opinion PricewaterhouseCoopers LLP
might issue on the Company&#146;s financial statements.
</FONT>
<P><FONT size="2">The Company has requested Arthur Andersen LLP to furnish a letter addressed to
the Securities and Exchange Commission stating whether Arthur Andersen LLP
agrees with the above statements made by the Company. A copy of this letter
addressed to the Securities and Exchange Commission, dated March&nbsp;22, 2002, is
filed as Exhibit&nbsp;16 to this Form&nbsp;8-K.
</FONT>
<!-- link1 "Item&nbsp;7. Exhibits" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;7. Exhibits</B>
</FONT>

<P><FONT size="2">Exhibit&nbsp;16&nbsp;&nbsp;&nbsp;&nbsp;Letter of Arthur Andersen LLP regarding the change in certifying accountant.
</FONT>
<P align="center"><FONT size="2">2</FONT>

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<DIV align="left"><A NAME="002"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B>
</FONT>

<P><FONT size="2">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 hereunto duly authorized.
</FONT>
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        <TD valign="top"><FONT size="2">Date: March&nbsp;22, 2002</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="3" valign="top" align="left"><FONT size="2">Action Performance Companies, Inc.</FONT></TD>
</TR>
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By:
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">/s/ R. David Martin</FONT></TD>
</TR>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Name:<BR>
Title:
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">R. David Martin<BR>
Chief Financial Officer</FONT></TD>
</TR>
</TABLE>
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<P align="center"><FONT size="2">3</FONT>

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<DIV align="left"><A NAME="003"></A></DIV>

<P align="center"><FONT size="2"><B>Exhibit&nbsp;Index</B>
</FONT>

<P align="center"><FONT size="2">&nbsp;
</FONT>

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        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
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<TR><TD><TR><TD><TR><TD><TR><TD>
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        <TD valign="top"><FONT size="2">Exhibit&nbsp;16</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Letter of Arthur Andersen LLP regarding the change in certifying accountant.</FONT></TD>
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<DOCUMENT>
<TYPE>EX-16
<SEQUENCE>3
<FILENAME>p66360ex16.txt
<DESCRIPTION>EX-16
<TEXT>
<PAGE>
                                                                      EXHIBIT 16

Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.  20549

March 22, 2002

Dear Sir or Madam:

We have read the first, second, third and fifth paragraphs of Item 4 included in
the Form 8-K, dated March 18, 2002, of Action Performance Companies, Inc.
(Commission File Number: 0-21630) filed with the Securities and Exchange
Commission and are in agreement with the statements contained therein.

/s/ Arthur Andersen LLP

Copy to:   R. David Martin, Chief Financial Officer
           Action Performance Companies, Inc.

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