Notes

CW Associates CPA's Hawaii, Services in Tokyo, Hong Kong and USA

Accounting and Auditing

CW Associates, CPAs, provides accounting, auditing, and other assurance services to for-profit businesses and nonprofit entities. The firm presently includesnearly 20 professional staff and other professional support dedicated to providing accounting, auditing, and other assurance services. Our service approach is designed to assure you that:

- We are a readily-available resource throughout the year.

- We will complete our work in a timely and efficient manner.

- We will continue to do so in future years with substantially the same staff.

We perform our accounting and auditing engagements on laptop computers using specialized computer software. We also subscribe to and use numerous publications of the AICPA, CCH, and the Practitioners Publishing Corporation (including the electronic versions, which are available to us at all times onour laptop computers). These publications include programs and checklists designed specifically for use by practicing certified public accountants on accounting and auditing engagements in general and specialized industries. Our practice is to use these programs and checklists on each of our engagements,and to make them part of the documentation that supports our work. Because these publications are updated regularly and used by thousands of practicing certified public accountants across the country, they assure us that we are providing our clients with the best and most up-to-date professional care andattention.

CW Associates, CPAs, is a member in good standing of the Private CompaniesPractice Section of the AICPA, as well as the AICPA Government Audit Quality Center and the AICPA Employee Benefit Plan Audit Quality Center. Those memberships provide us with technical support on commercial, government, and nonprofit engagements. They also require us to make public the results of ourpeer review. CW Associates, CPAs, and its predecessor firm received unmodified peer review reports without letters of comments in each of their peer reviews since inception in January 1989.

Tax Services

CW Associates, CPAs, provides tax planning and compliance services for businesses and their owners, and for nonprofit entities. The firm presently includes morethan 10 professional staff and other professional support dedicated to providing tax services. Our tax professionals work extensively with individuals and business owners, C corporations, S corporations, limited liability companies and limited liability partnerships, general and limited partnerships, nonprofit entities with for profit subsidiaries, and trusts and estates. We are experienced with companies doing business in more than one state and have access to tax professionals in other states, if needed. We frequently analyze tax planning opportunities and transactions in progress for tax planning purposes. In addition, we have extensive experience in tax issues for nonprofit organizations.

Our tax professionals also have worked extensively in resolving audit issues with the Internal Revenue Service and State office Hawaii Department of Taxation on Hawaii general excise tax and other local tax issues unique to Hawaii.

General Business Consulting Services

Our approach is to add the expertise of a qualified local CPA firm to our clients' available resources. We seek frequent contact to encourage questions from our clients so we can resolve issues as they arise during the year, rather than waiting until after the end of the year. Our focus is on assisting our clients comply with regulatory requirements and improving financial and operational performance.

Peer Review Services

Even before peer reviews were required of CPAs providing audit services in Hawaii, we were conducting peer reviews to help enhance the quality of the CPAprofession. Our peer reviewers are certified by the AICPA to conduct such peerreview services.