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<br />A)K <br /> <br />Abbott, Jordan ~Koon, LLC <br />CERTIFIED PUBUC ACCOUNTANTS <br /> <br />To the Owners <br />Keefe, McCullough & Co., LLP <br /> <br />p.o. Box 609 0405 Second Street 0 Manchester, GA 31816 <br />(706) 846-8401 0 Fax (706) 846-3370 <br /> <br />We have reviewed the system of quality control for the accounting and auditing practice <br />of Keefe, McCullough & Co., LLP (the firm) in effect for the year ended August 31,2008. <br />A system of quality control encompasses the firm's organizational structure, the policies <br />adopted and procedures established to provide it with reasonable assurance of conforming <br />with professional standards. The elements of quality control are described in the <br />Statements on Quality Control Standards issued by the American Institute of Certified <br />Public Accountants (AICPA). The firm is responsible for deSigning a system of quality <br />control and complying with it to provide the firm reasonable assurance of conforming with <br />professional standards in all material respects. Our responsibility is to express an opinion <br />on the design of the system of quality control and the firm's compliance with its system of <br />quality control based on our review. <br /> <br />Our review was conducted in accordance with standards established by the Peer <br />Review Board ofthe AICPA. During our review, we read required representations from the <br />firm, interviewed firm personnel and obtained an understanding of the nature of the firm's <br />accounting and auditing practice, and .the design of the firm's system of quality control <br />sufficient to assess the risks implicit in its practice. Based on our assessments, we <br />selected engagements and administrative files to test for conformity with professional <br />standards and compliance with the firm's system of quality control. The engagements <br />selected represented a reasonable cross-section of the firm's accounting and auditing <br />practice with emphasis on higher-risk engagements. The engagements selected included <br />among others, audits of Employee Benefit Plans and engagements performed under <br />Government Auditing Standards. Prior to concluding the review, we reassessed the <br />adequacy of the scope of the peer review procedures and met with firm management to <br />discuss the results of our review. We believe that the procedures we performed provide <br />a reasonable basis for our opinion. <br /> <br />In performing our review, we obtained an understanding of the system of quality control <br />for the firm's accounting and auditing practice. In addition, we tested compliance with the <br />firm's quality control policies and procedures to the extent we considered appropriate_ <br />These tests covered the application of the firm's policies and procedures on selected <br />engagements. Our review was based on selected tests therefore it would not necessarily <br />detectall weaknesses in the system of quality control or all instances of noncompliance <br />with it. There are inherent limitations in the effectiveness of any system of quality control <br />and therefore noncompliance with the system of quality control may occur and not be <br />detected. Projection of any evaluation of a system of quality control to future periods is <br />subject to the risk that the system of quality control may become inadequate because of <br />changes in conditions, or because the degree of compliance with the policies or <br />procedures may deteriorate. <br /> <br />MEMBERS OF <br />AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS <br />GEORGIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS <br />