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MALLOY, MONTAGUE, KARNOWSKI, RADOSEVICH& CO., P.A. QUALIFICATIONS AND EXPERIENCE (continued) • Every workimust r associate. • The working papers for significanaudit areas must be reviewed by the engagement principal • AnindependentrevewofaUdroftreportsmuatbemadebyaphnoipalormenagernotot otherwise associated with the engagement. For engagements meeting certain specified criteria, the extent of these reviews may be broadened to require a quality review of select audit documentation. G. Peer Review MMKR has successfully completed all required peer reviews. See Appendix A for a copy of the report on our latest review, which included a review of specific government engagements. H. No Regulatory or Disciplinary Action MMKR has had federal Single Audit files selected for routine Federal Quality Control Reviews twice in the last ten years by the U.S. Department of Education, Office of the Inspector General. Based on their reviews, they identified no departures from Auditing Standards Generally Accepted in the United States of America, Government Auditing S/andandm, U.B. Office of Management and Budget Circular A-1 33, or the Uniform Guidance. MMKR has not had any other federal or state desk reviews or field reviews of its audits for the past three years|n�d�n.nodk�|in�a�nh��n��p�ing��MM��Min��s� regulatory bodies or professional organizations. No regulatory action has been taken against any MMKR staff person. PRINCIPAL, SUPERVISORY, AND STAFF QUALIFICATIONS AND EXPERIENCE A. Assignment Policy MMKR has specialized in providing audit and consulting services to Minnesota local governments and related entities for over 60 years. Currently, these services account for approximately 60 percent of MMKR's annual revenues. Last year, we audited over 25 cities and approximately 30 school districts and 50 other governmental entities of varying size. Accordingly, our governmental audit team members work on a number of governmental audit engagements throughout the year, quickly accumulating a significant amount of experience in a very complex field. You, as a oiient, get the benefit of that acquired experience and knowledge. The firm's policy for governmental audits typically requires the assignment of a prinoipo|, a monager, a senior eosoo\ate, and additional associates of varying qualifications as deemed necessary in the circumstances. A second principal is assigned to each governmental audit engagement to consult on technical issues. Staffing assignments are reviewed each year. If it is in the best interest of the client and/or the firm to change staff member(to maintain \ndependenoe, etc.) such a change is made. The same principal and manager are typically assigned in subsequent years. Senior associates and associates may be rotated