FORM 8-K-A


                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 29549


                                 CURRENT REPORT


     Pursuant to Section 13 of 15(d) of the Securities Exchange Act of 1934


                        Date of Report: October 18, 2001


                      Name of Registrant: GIANT GROUP, LTD.


                  Registrant's Address: 9440 Santa Monica Blvd.
                                        Suite 407
                                        Beverly Hills, CA. 90210


                    Registrant's Phone Number: (310) 273 5678


                        State of Incorporation: Delaware


                         Commission File Number: 1-4323


                 IRS Employer Identification Number: 23-0622690






Item 4.     Changes in Registrant's Certifying Accountant.
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         GIANT GROUP, LTD.'s ("Company") management and the Company's Audit
Committee of the Board of Directors determined that it would be in the best
interest of the Company to dismiss its independent accountant BDO Seidman, LLP
("BDO") effective October 18, 2001. BDO acted as the Company's independent
accountant for the year ended December 31, 2000 and for the quarters ended June
30, 2001 and March 31, 2001.

         The termination of BDO was approved by the Company's Audit Committee of
the Board of Directors. There has been no disagreement between the Company and
BDO on any matter of accounting principles or practice, financial statement
disclosure or auditing scope or procedure for the year ended December 31, 2000
and the interim period ended October 18, 2001.

         BDO issued a Report dated February 13, 2001 on the Registrant's
Consolidated Financial Statements for the three years ended December 31, 2000.
This Report included an unqualified opinion on the Company's Consolidated
Balance Sheet as of December 31, 2000. BDO could not express an opinion on the
Company's Consolidated Balance Sheet as of December 31, 1999 and the
Consolidated Statements of Operations, Retained Earnings and Cash Flows for the
three years ended December 31, 2000. BDO was not able to apply any audit
procedures related to these financial statements due to the unavailability of
records of Periscope Sportswear Inc.'s ("Periscope"), one of the Registrant's
wholly-owned subsidiaries. Periscope delivered peaceful possession of its assets
and records to a third party and also filed a voluntary petition under Chapter 7
of the bankruptcy code in the fourth quarter of 2000. The Bankruptcy Trustee
also received Periscope records.

         During the Registrant's fiscal year ended December 31, 2000 and the
interim period ended October 18,2001:

         (a)  BDO has not advised Registrant that internal controls necessary
              for the Registrant to develop reliable financial statements do not
              exist;

         (b)  BDO has not advised Registrant that information came to BDO's
              attention that led BDO to no longer rely on Company management's
              representations, or that has made BDO unwilling to be associated
              with the financial statements prepared by Company management;

         (c)  BDO has not advised Registrant that BDO needed to expand
              significantly the scope of its audit, or that information came to
              BDO's attention during such time period that if further
              investigated may (i) materially impact the fairness or reliability
              of either a previously-issued audit report or the underlying
              financial statements, or the financial statements issued or to be
              issued covering the fiscal periods subsequent to the date of the
              most-recent financial statements covered by an audit report or
              (ii) cause BDO to be unwilling to rely on Management's
              representations or be associated with the Registrant's financial
              statements; and

         (d)  BDO has not advised Registrant that information came to BDO's
              attention of the type described in Subparagraph (c), the issue not
              resolved prior to BDO's dismissal.




     The Company retained Stonefield Josephson, Inc.("Stonefield") on October
19, 2001 to act as its independent accountant for the third quarter ended
September 30, 2001 and the year ended December 31, 2001. Prior to the change of
accounting firms, both Company management and the Company's Audit Committee of
the Board of Directors did not consult Stonefield or any other accounting firm
regarding the application of accounting principles to a specific completed or
contemplated transaction, or the type of audit opinion that might be rendered.



                                   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 hereunto duly authorized.


Date: November 21, 2001              By: /s/ Pasquale A. Ambrogio
                                         ------------------------
                                Vice-President and Chief Financial Officer