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' HAIR , CPA <br /> MAS <br /> ■■•■■■•�■ ® ,Haire, Kmetz, Nuttall, Field MICOHAEL L. OKMETZECPA, PFS <br /> ■■.. 0� <br /> 6 _! SCOTT A. NUTTALL, CPA, CFP <br /> 0001011009ME & hartered DANIEL E. FIELD, CPA <br /> .OUGM414' IFER Co . ,, BRIAN J . ELWELL, CPA, CVA <br /> 1 rill „ ' MEA PATRICK K. GRAHAM , CPA <br /> • I ALT . ' .r Tax, Business and Financial Consultants HARVEY L. HERRST, CPA <br /> \' <br /> TERESA M . LASOTA, CPA <br /> ■■■■, i403® <br /> Management Letter <br /> To the Senior Management and <br /> Board of Directors <br /> G.R, O .W. , Inc . <br /> Vero Beach, Florida <br /> We have audited the financial statements of G. R. O . W. , Inc . , as of June 30, 2002 and for the fifteen month <br /> period then ended, and have issued our report thereon dated January 10, 2003 . <br /> We conducted our audit in accordance with generally accepted auditing standards and the standards <br /> applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller <br /> General of the United States . We have issued our Independent Auditors ' Report on Compliance and on <br /> Internal Control over Financial Reporting, and a Schedule of Findings and Questioned Costs . Disclosures <br /> in this report and schedule, which are dated January 10, 2003 , should be considered in conjunction with <br /> this management letter. <br /> During the audit, we noted certain matters involving the internal control and other operational matters <br /> that are presented for your consideration . This letter does not affect our report dated January 10, 2003 , <br /> on the financial statements of G.R. O .W. , Inc . Our comments and recommendations are intended to <br /> improve the internal control or result in other operating efficiencies . We will be pleased to discuss these <br /> comments in further detail at your convenience, to perform any additional study of these matters , or to <br /> assist you in implementing the recommendations . Our comments are summarized as follows : <br /> Improper or Inadequate Accounting Procedures <br /> During our audit, we noted various accounting/bookkeeping practices and procedures where <br /> improvements could be made. For example : <br /> • Participant case documents were not properly organized, filed, and amount totals not <br /> easily traceable to source document copies . <br /> • Only one check signer is required on all checks . <br /> • Document filing was inconsistent and documents were often hard to find. <br /> • Grow ' s usage of prepaid debt cards to purchase various items . <br /> 3111 CARDINAL DRIVE 4 VERO BEACH , FLORIDA 32963 • TELEPHONE (772) 231 -6902 • FACSIMILE (772) 231 -4099 <br /> email@oknf-cpas . com <br />