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Mr. .Iamcs C. Bacuil, Jr. <br /> A��ril 2(�, l yy5 <br /> Pti�c Twc� <br /> An IIUtIIt II1CIllCICS CX21i71111111�T, c�n �i test hasis, eviclenec suppc�rting the am��unts anel <br /> �liselc�sures in the finaneial statements; thercfc�rc, c�ur audit will invc�lve judgment ahc�ut the <br /> numhcr c�fi transFlCtlOI1S tll hC cxail�incd and thc arcas to hc tcstccJ. Also, we will }�lan anci <br /> ��cl-f��rm thc �lUllll tO (1(�td117 1'C�1Sl)I1�1hIC assurancc ahc�ut wl�cthcr thc fi�lancial state�T�cnts <br /> arc frcc c�f matcrial misstatcnicnt. As rcyuircci hy thc Singlc Auciit Act uf 19�i4, c�ur auciit <br /> wil) inrludc tcsts uf transactic�ns rclatc�l t�� fcdct-al assistancc }�rc�gran�s fc�r cc�m}�liancc with <br /> .�E���lic<�hlc laws anc) r�:�ul��tic�ns. �-Ic�wcvcr, hccausc ��f th�� cc�nccpt c�f rc��sonablc �1SSUP�lI1CC <br /> an�l hrcausc wc will nut }�crfc�rm a cictailcci cxaminatic�n c�f all transactic�ns, thcre is a risk <br /> that n��itcrial �:rrc�rs, irrc�;ularitics, c�r illcgal acts, inclucling frauci c�r cicfalcatic�ns, may cxist <br /> r�n�l n��t hc cJct�:ctcci hy us. Wc w�ill aclvisc yc�u, howcvcr, c�f any matters c�f that naturc that <br /> cc�n�c tu ��ur tlfll'lltic111, ancl will inclucle such mattei�s in the re}�c�rts r�quircci hy a Single <br /> /luclit. vur� rc��x�nsihility cis auclitc�rs is lirtlitecl tc� the J�eric�cl ec�verecl by ��ur auciit ancl <br /> cic�cs n��t cxtcn�l tc� mattcrs that might arisc cluring any latcr E�cricxis fc�r which we arc nut <br /> rnbag���l �i� ��u�litc�rs. <br /> Wc uncicrst��n�l that yc�u will F�rc�vicic us with thc h�iSIC lJlfO1'TT1811(111 1'�(,�UII"CC� fOf (1UI' �lU(.ilt <br /> ancl that yc►u arc resEx�n�ihlc f��r thc accuracy ancl rc�m}�l�lcncss c�f that infc�rmatic�n. Wc <br /> will a�visc yuu ahc�ut <►��E�r��}�riatc �iccc�unting princi}�lcs ancl thrir aE���licatic�n an�i will assist I <br /> Ill t�1C }�CC}��iCFltic)11 (lt vOLil' tlll£111C1�1� Slatcmcnts, hul thc resEx�n�ihility f��r th� financial <br /> �tatcn�cnts r�m��ins with y��u. 'I'his resFxmsihility inclucic5 the maint��nancc ��f� a�lcyuat�� <br /> rccc�l-�ls ancl rclatcd intcrnal cc�ntrc�l structurc, thc scicctic�n ancl aE���licatic�n c�f �1CC(1U11T1l1� <br /> E�rinciE�lcs, ana thc s�ifc�uarciing c�f asscts. Yc�u will m�zintain all rcc��rds y��u ncca, as wc <br /> will nc�t rctain any uf ��ur w�c�rk}�a}�crs hcycmd thc E�cric�d re�uirccl I,y c�ul� }�c�licy cm rcccn- <br /> tic�n. <br /> `I�he ��ssistaiiee tc� hc su��}�li��cl hy yc�ur �e�sc�nnel, ineluaing the E�reJ�aratic�n c�f sche�iulrs <br /> �ncl analys�s c�f accc�unts, will he discusscd anci coc�rclinatccl with Ms. Bcth B. Ccnrtcr, an�i <br /> Ms. Patty I-�anscn. Thc ti�Y�rly cc�m��lctic�n c►f this wc�i�k will a�sist us in �3CIlICVIII� 111 <br /> cfficicnt ��crfc►i�mancc c�f c�ur w�c�rk. A list c�f� tl�c matcrials that yc�ur persc�nncl will havc <br /> rcacly ��t thc start c�f thc auclit was discusscc] an�i agreca u}�cm with Ms. Cc�utcr and Ms. <br /> Hanscn at thc ��lanning mcrting hcicl A}�ril 15, 1y95. <br /> Our ��u�lit is nc�t s}�ccifically dcsi�ncci and c��nnc�t hc rclicd c�n tc� di�cic�sc rc}���rtahle <br /> c��n�litic�ns, that is, signifiicant cicficicncie5 in thc dcsign c�r operatic�n of thc intcrnal contr-c►1 <br /> Sll'UClUTC. H(1W(`VCI", C�UC'lll� C�1C au�lit, if wc bccc�mc awar�: c�f such rcpc�rtahlc cc�ncliti��ns c�r <br /> w�iy� tl��,t wc hrli�:vc managcmcnt ��racticcs can hc im��rc�vccl, wc will cc�mmunicatc them tc► <br /> yclU IIl �l tiC�)�lI'�1tC �CtICI'. <br />