HEIDENREICH & HEIDENREICH, CPAs, PLLC
10201 S. 51st Street #170
Phoenix, AZ 85044
(480)704-6301 fax 785-4619
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System Review Report
July 28, 2010
To the Owners of
Walker & Armstrong LLP
and the Peer Review Committee of the CA Society of CPAs
We have reviewed the system of quality control for the accounting and auditing practice of
Walker & Armstrong LLP (the firm) in effect for the year ended May 31, 2010. Our peer review
was conducted in accordance with the Standards for Performing and Reporting on Peer
Reviews established by the Peer Review Board of the American Institute of Certified Public
Accountants. The firm is responsible for designing a system of quality control and complying
with it to provide the firm with reasonable assurance of performing and reporting in conformity
with applicable professional standards in all material respects. Our responsibility is to express
an opinion on the design of the system of quality control and the firm's compliance therewith
based on our review. The nature, objectives, scope, limitations of, and the procedures
performed in a System Review are described in the standards at www.aicpa.org/prsummary.
As required by the standards, engagements selected for review included engagements
performed under the Government Auditing Standards and audits of employee benefit plans.
In our opinion, the system of quality control for the accounting and auditing practice of
Walker & Armstrong LLP in effect for the year ended May 31, 2010, has been suitably
designed and complied with to provide the firm with reasonable assurance of performing
and reporting in conformity with applicable professional standards in all material respects.
Firms can receive a rating of pass, pass with deficiency(ies) or fail. Walker & Armstrong LLP
has received a peer review rating of pass.
Heidenreich & Heidenreich, CPAs, PLLC
