BKR Garcia & Co. - Laserfiche WebLink

Home Browse Search

I I APPENDIX 11- QUALITY CONTROL REVIEW I I ~CPA ~ASSOCIATES Certified Public Accountants and Consult.1nts I I September 30, 2004 To the Shareholders Grau & Company, P.A. I I We have reviewed the system of quality control for the accounting and auditing practice of Grau & Company, P.A. (the firm) in effect for the year ended June 30, 2004. A system of quality control encompasses the firm's organization structure and the policies adopted and procedures established to provide it with reasonable assurance of confonning with professional standards. The elements of quality control are described in the Statements on Quality Control Standards issued by the American Institute of Certified Public Accountants (the AICPA). The design of the system, and compliance with it, are the responsibilities of thc firm. Our responsibility is to express an opinion on the design of the system, and the firm's compliance with that system based on our review. I I Our review was conducted in accordance with standards established by the Peer Review Board of the Alep A. In performing our review, we obtained an understanding of the system of quality control for the firm's accounting and auditing practice. In addition, we tested compliance with the firm's quality control policies and procedures to the extent we considered appropriate. These tests covered the application of the firm's policies and procedures on selected engagements. Because our review was based on selective tests, it would not necessarily disclose all weaknesses in the system of quality control or all instances of lack of compliance "lth it. I I Because there are inherent limitations in the effectiveness of any system of quality control, departures from the system may occur and not be detected. Also, projection of any evaluation of a system of quality control to future periods is subject to the risk that the system of quality control may become inadequate because of changes in conditions, or because the degree of compliance with the policies or procedures may deteriorate. I I In our opinion, the system of quality control for the accounting and auditing practice of Grau & Company, P.A. in effect for the year ended June 30, 2004, has been designed to meet the requirements of the quality control standards for an auditing practice established by the AICPA and was complied with during the year then ended to provide the firm with rea<;onable assurance of conforming with professional standards. I cl'l/ II~ CPA Associates I I Memb<iors; . Arn~rican In:l-tituh.' n(C~'rt.ifit"(l Public A('I"Ountall~ . SJ.:C t,"actiN' ~('tioll . Private Complluit'o\! Pwctil'l' St,dion . FIQrida (nHtiLut..- ofC\,r\ifh.d Public Accl"luntflnts I I