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Lazar Levine & Felix LogoIn accordance with the Sarbanes-Oxley Act of 2002, the Public Company Accounting Oversight Board (PCAOB) conducted an inspection of Lazar Levine & Felix LLP ("LLF") in October and November of 2007. We are happy to announce that, as per the draft report received from the PCAOB dated January 14, 2008 "The engagement reviews did not identify any audit performance issues that, in the inspection team's view, resulted in the Firm failing to obtain sufficient competent evidential matter to support its opinion in the issuer's financial statements."

The PCAOB, which is sometimes referred to as "Peek-a-boo" is a private-sector, non-profit corporation created by the Sarbanes-Oxley Act of 2002 to oversee the auditors of public companies.

About Lazar Levine & Felix LLP
LLF is a leading professional accounting and consulting firm serving individuals, law firms, public corporations and private companies.  Celebrating its 40th year, LLF has been repeatedly listed in the NJBIZ Book of Lists as one of the state's "Top Accounting Firms", and authors the Warren Gorham & Lamont, Research Institute of America, seven volume loose-leaf and web service SEC Compliance – Financial Reporting and Forms.

With locations in New York and New Jersey, LLF is known for the highest level of personal, hands-on client service, providing our expertise to a diverse range of service areas. Clients experience a commitment to excellence with direct access to partners, responsiveness, and the knowledge and care they receive from the entire team. Whether working with attorneys and companies or with individuals and families, the firm's philosophy is the same: numbers are what we analyze, but it's the relationships that count.

We invite you to experience LLF where...you're not a number.

LLF is a member of the Center for Public Company Audit firms of the American Institute of Certified Public Accountants (AICPA), as well as being registered with the Public Company Accounting Oversight Board (PCAOB).

For more information please email us at info@lazarcpa.com.


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Lazar Levine & Felix LLP provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.