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To: M Murphey who wrote (22952)	8/14/1998 8:01:00 PM
From: PsycProf	Read Replies (2) \| Respond to of 27968

1) He was returning my call. I was impressed that he called back so quickly. 2)I agree. Let's hope they stick to it. 3)Yes 4)I didn't ask, sorry. 5)He stated that he needs the time to "put the numbers into a meaningful format and write a commentary." (I think that was a direct quote.) I am a psychologist and college professor not an accountant either so I won't pretend to be able to explain it better than that. I was impressed with the quick response and sincerity however. Take Care, PsycProf

To: M Murphey who wrote (22952)	8/15/1998 11:28:00 AM
From: ElGator	Respond to of 27968

MM: Regarding point 5 on your list, management has to review and sign-off on the the draft financial statements, as prepared by the audit firm, before they can be finalized. It is, after all, their company and their financial statements and they have provided the data for the audit. For a number of reasons, and liability is not the least of them, the company has to represent that it is in full agreement with the statements. For that reason, they have to be examined quite closely. Further, subsequent to production of the draft financials, management in most companies chooses to write the notes, which are an integral part of the audit report, themselves. The text is obviously approved by the audit firm before it is included in the report. Missing the target date by a couple of days to a week is okay, it's pretty normal. They really should have said "week of 08/17" in the press release; unless the work is already done, it's really difficult to specify an exact date for these things.