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� � <br /> ACCO�iIMV AL IUSINESS CONSUI� <br /> To the Members <br /> Geo. S. Olive& Co. LLC <br /> We have reviewed the system of quality control for the accounting and auditing practice of <br /> Geo. S. Olive& Co. LLC, (the tirm) in effec;t for the year ended May 31, 1995. Our review was <br /> conducted in conformity with standazds for peer reviews promulgated by the peer review committee of <br /> the SEC practice section of the AICPA Division for CPA Firms(the section). We tested compliance with <br /> the firm's quality control policies and procedure�at the firm's executive oftice and at selected practice <br /> o�ces and with the membership requirements of the section to the extent we considered appropriate. <br /> These tests includerl the application of the firm's policies and procedures on selected accounting and <br /> auditing engagements. <br /> ' In performing our review, we have given consideration to the general characteristics of a system of <br /> quality control as desc:ribed in quality control standards issued by the AICPA. Such a system should be <br /> appropriately comprehensive and suitably designed in relation to the firm's organizationa( structure, its <br /> policies, and the nature of its practice. Variance in individual performance can affect the degree of <br /> compliance with a tirm's prescribed quality control policies and procedures. Therefore, adherence to all <br /> policies and procedures in every case may not be possible. As is customary in a peer review, we are <br /> issuing a letter under this date that sets foRh comments related to certain policies and procedures or <br /> compliance with them. None of these matters were considered to be of sufficient significance to affect <br /> the opinion expressed in this report. <br /> In our opinion, the system of quality control for the accounting and auditing practice of <br /> Geo. S. Olive& Co. LLC in efFect for the year ended May 31, 1995, met the objectives of quality <br /> control standards established by the AICPA, and was being complied with during the year then ended to <br /> provide the firm with reasonable assurance of conforming with professional standards. Also, in our <br /> opinion, the fi�m was in confotmity with the membership requirements of the section in all material <br /> respects. <br /> //�a�i/���/G"/ �����,/,{i'C. <br /> MEADEN & MOORE, INC. <br /> Dublin, Ohio <br /> July 28, 1995 <br /> /�� <br /> �d�,a r�«�,i�. <br /> 525 AAeho Place Nor1h Suik 490 Dublin,Ohio 43017•1376 614 766-6991 FAX 614 766-1882 <br /> Cleveland Columbus Wooster Chicago New York <br />