Finding Text
The Company does not prepare its annual financial statements and footnote disclosures. The Company staff work with the auditing firm in the preparation and subsequently reviews and approves all statements and disclosures before issuance. The Company relies on the auditing firm to prepare the financial statements and disclosures and reviews the final product. Caution must be exercised so that the auditor is not deemed to be part of the control system. The Company can accept this condition and concentrate on the review and approval process or prepare all financial statements and disclosures in house or hire an outside source to prepare the financial statements and disclosures. The Company accepts this condition and will concentrate on the review and approval process.