AC&C, LLP - Laserfiche WebLink

Home Browse Search

I I I I I I I I I I I I I I I I I I I ~~~KANE & COMPANY :RA. ~.. ,',' ';<' ".' :--~""/<~,'.":j:",-, . ' " .' ,'A~~'~' , . , . , .., . tJoY"fll'41t~tJ ~ <'I'I~jllliIlI'IBI.I( \(lUI:-'I\\I~sBI~i\I:~~,l\J.\~III\\I' :,,:,. ' " '>':~":'.:;;"" " ". _ ',''-;';;;!'' ,. r::.......~ " ..,~"_ ., "'," ~(""" ".' " .' ""U";'h' .' Shareholders Albemi, Caballero & Albemi, P.A. 4649 Ponce de Leon Boulevard, Suite 404 Coral Gables, florida 33146 AFFILIATE OF' AcCOUNTANTS GLOBAL NE'TWORK We have reviewed the system of quality control for the accounting and auditing practice of Alberni, Caballero & Albemi, P.A. (the firm) in effect for the year ended June 30t 2005. A system of quality control encompasses the fmn's organizational structure, the policies adopted and procedures established to provide it with reasonable assurance of conforming with professional standards. The elements of quality control are described in the Statements on Quality Control Standards issued by the American Institute of CPAs (AICPA). The firm is responsible for designing a system of quality control and complying with it to provide the firm reasonable assurance of conforming with professional' standards in all material respects. Our responsibility is to express an opinion on the design of the system of quality control and the firm's 'Compliance with its system of quality control based on our review. OUf review was conducted in accordance with standards established by the Peer Review Board of the AlCP A. During our review. we read required representations from the finn, interviewed firm personnel and obtained an understanding of the nature of the firm's accounting and auditing practice andthe design of the fIrm'S system of quality control sufficient to assess the risks implicit in its practice. Based on our assessments, we selected engagements and administrative files to test for confonnity with professional standards and compliance with the finn's system of quality control. The engagements selected represented a reasonable cross-section of the finn's accounting and auditing practice with emphasis on higher-risk engagements. (The engagements selected included among others, engagements performed under Government Auditing Standards). Prior to concluding the review, we reassessed the adequacy of the scope of the peer review procedures and met wit~ firm management to discuss the results of our review. We believe that the procedures we performed provide a reasonable basis for our opinion. In perfonning our review. we obtained an understanding of the system of quality control for the fmn's accounting and auditing practice. In addition, we tested eompJiimce with the finn's quality control policies andprocedurcs to the extent we considered appropriate. These tests coverod the application of . the firm's policies and procedures on selected engagements. Our review was based on selected tests and therefore it would not necessarily detect all weaknesses in the system of quality control or aU instanQes of noncompliance with it. There are inherent limitations in the effectiveness of any system of quality control and therefore noncompliance with the system of quality control may occur and not be detected. 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 deteriomte. In our opinion, the system of quality control for the accounting alid auditing practice of Albemi, Caballero & Albemit P.A. in effect for the year ended June 30, 2005, has been designed to meet the requirements of the quality control standards for an accounting and auditing practice established by the AICPA and was complied with during the year then ended to provide the finn with reasonable assurance of confonning with professional standards. 4~ A C~/?7p~/ r./1, Kane & Company, P.A. Certified Publio Accountants February 3, 2006 1101 BRICKELL AVENUE. SUITE M.W'. MIAMI. FLORIDA 33131 · H;l.: 305,789.790Q . FAX: 305.789.7901 ~~l~:;'v~::r~~Y:.:;:~~: ,;~~~'~;~~~~\~i~\~~~:Rf~~:~~1:~;~~/:\ ~,~}-';~;J,:";~;} .:.::{:. ~. r~~;~t~~~?,,~ ':~:/~:~~ ~