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Report on Internal Control <br />The 2006 Report its based on new <br />standards (SAS 112) <br />SAS 412 lowered the threshold for <br />reporting of internai control <br />matters and re -defined internal <br />control deficiencies <br />♦ Significant Deficiency defined as <br />"a control deficiency that adversely affects <br />the entity's ability to initiate, authorize, <br />record, ,process, or report financial data) <br />reliably in accordance with GAAP, such that <br />there is more than a remote likelihood that a <br />misstatement of an entity's financial <br />statements that is more than inconsequential <br />will not be prevented or detected" <br />Member of HLB International 6 Tautges Redpath, Ltd. <br />