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An Open Letter to Our Clients and Friends December 12, 2006 I am very pleased to be sending this annual open letter to our clients and friends as IIAC, Ltd completes yet another successful year of client service. Our continued success and promising outlook for the future would not have been possible without the support of our valued clients and their confidence in our ability to serve their needs. During 2006 we welcomed several new clients including a life insurance company. Once again, I extend our sincere thanks and appreciation to our ongoing and new clients. My commitment to the long term success of IIAC and the effective and efficient delivery of services to our clients at a reasonable cost has never been stronger. I am also pleased to announce the successful completion of an independent peer review of our accounting and auditing practice. This review was undertaken as a condition of membership in the American Institute of Certified Public Accountants (AICPA). After thorough study of our policies and procedures, the reviewers concluded our firm complies with the stringent quality control standards established by the AICPA. If requested, we will provide a copy of the report on the results of the review to all interested parties, even though we are not required to do so, because I am very proud of our peer review results. The public accounting profession, or industry as the case may be, continues to be noted for rising fees and rapid growth through mergers and aggressive marketing practices, along with high turnover and continuity problems. With the recent five-year undergraduate requirement, fewer people are entering the profession. At IIAC we are always looking for ways to improve our service to you and strengthen business relationships. As part of that process, we have expanded our relationships with seasoned professionals. We will increase our emphasis on continuity and more effective audit scheduling for next year. We have also committed to our audit clients that there will be no fee increases for 2006. I have already begun contacting clients so that we can attack the planning process for the upcoming audit season and schedule accordingly. Again, thank you for your business, thank you for your interest, and we look forward to serving you in the future. Sincerely, Jerome P. Dublan, CPA |
