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The firm did not perform any procedures to test the realized gains from the sale of investments. (AS 2301.36)

The firm did not perform substantive procedures to test investment securities beyond comparing the balance to the brokerage statement obtained from the issuer. (AS 2301.08)

During the year the issuer transferred certain securities from its available-for-sale portfolio to its held-to-maturity portfolio. The firm did not perform substantive procedures beyond inquiring of management to evaluate whether the issuer had the intent and ability to hold these securities to maturity. (AS 2301.08)

During the year the issuer transferred certain securities from its available-for-sale portfolio to its held-to-maturity portfolio. The firm did not perform any substantive procedures to test the fair value of these securities and the related unrealized loss as of the date of this transfer. (AS 2501.07)

The firm did not perform any substantive procedures to evaluate the appropriateness of the issuer's categorization of these securities within the fair value hierarchy set forth in FASB ASC Topic 820 Fair Value Measurement. (AS 2301.08)

For investment securities tested at an interim date the firm did not perform any procedures to extend its conclusions from the interim date to year end. (AS 2301.45)

The firm did not perform any substantive procedures to evaluate the appropriateness of the issuer's categorization of its investment securities within the fair value hierarchy set forth in FASB ASC Topic 820. (AS 2301.08)

To test the fair value of certain investment securities the firm selected a sample of investments for testing. The firm did not select sample items in such a way that could be expected to be representative of the population because it excluded a portion of the population when selecting sample items to test. (AS 2315.24)

The issuer used a service organization for recordkeeping and processing of transactions related to investment securities. The firm did not perform any procedures that addressed the accuracy of certain data from the service organization that was used to determine the classification of investment purchases and sales in the statement of cash flows. (AS 2301.08)

The firm did not perform any substantive procedures that addressed the appropriateness of the classification of these investments. (AS 2301.08)

The issuer used an investment adviser to initiate purchases and sales of its investment securities in accordance with the issuer's investment policy. These securities were held by a third-party custodian. The firm did not perform sufficient procedures to test these securities because the firm's procedures were limited to confirming the recorded balances of these securities with the investment adviser without performing any procedures to evaluate the appropriateness of the information provided by the investment adviser. (AS 2503.21 and .22)

The issuer held certain investment securities that it classified based on the maturity date of the security as either cash equivalents or short-term investments in its financial statements. The firm did not perform any substantive procedures that addressed the appropriateness of the classification of these securities. (AS 2301.08)

The firm did not perform any substantive procedures to test the issuer's amortization of premiums and accretion of discounts on these investment securities. (AS 2301.08)

The issuer disclosed various information about its investment securities that were in unrealized loss positions at year end. The following deficiencies were identified: · The firm used these data in its substantive testing of this disclosure but did not perform any procedures to test or test any controls over the accuracy of these data. (AS 1105.10)

The firm did not perform any substantive procedures to test the (1) issuer's classification of certain investment securities and (2) whether certain other investment securities were impaired. (AS 2301.08)

The firm did not perform any substantive procedures to test the allowance for credit impairment for these investment securities. (AS 2501.07)

The firm did not perform any procedures to evaluate the reliability of certain external data it used to test the fair value of certain investments. (AS 1105.04 and .06)

The firm's internal inspection program inspected this audit and reviewed this area but did not identify the deficiencies below. The firm did not perform substantive procedures to test the net asset value of certain investment securities beyond comparing the securities' net asset value to pricing information obtained from an affiliate of both the manager of the funds and the record keeper. (AS 2501.07)

The firm did not perform any substantive procedures to evaluate the appropriateness of the issuer's categorization of these securities within the fair value hierarchy set forth in FASB ASC Topic 820 Fair Value Measurement. (AS 2301.08)

The issuer reported certain investment securities at fair value. The firm did not perform substantive procedures to test the fair value of these investments beyond comparing the recorded fair value to the record keepers' reports and inquiring of the record keepers. (AS 2501.07)

The firm did not perform sufficient procedures to test the issuer's investment securities at year end because its procedures to test these securities were limited to (1) inspecting certain bank statements at interim dates for transfer activity from the issuer's cash account to its investment account and (2) reading the investment contract. (AS 2301.08)

The firm selected for testing a control that consisted of management's review of other-than-temporary impairment of investment securities. The firm did not identify that this control only operated over certain investment securities and as designed would not prevent or detect a material misstatement related to the other investment securities. (AS 2301.19)