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BOYCE, FURR <br />COMP~',NY, LLP <br />CERTiF1ED PUBLIC ACCOUNTANTS <br />St~~uc~. A. Bovcc, P~r~TNCt~ <br />Bo~niE W. Fui~~i, P~~~rrrEr~ <br />May 5, 2009 <br />Martin Starnes & Associates, CPAs, PA and the <br />Peer Review Committee, North Carolina Association <br />of Certified Public Accountants <br />Snt~mY P. NCWELL, CPA <br />.IO ~LLEN B. LOY, CPA <br />DAVID E. BOl'CE, CPA <br />PATRICIA T. WAGIVER, CPA <br />CHERYL W. GAZALGN, CPA <br />We have reviewed the system of quality controi for the accounting and auditing practice of <br />Martin Starnes & Associates, CPAs, PA (the firm) in effect for the year ended December 31, <br />2008. Our peer review was conducted in accordance with the Standards for PerForming and <br />Reporting on Peer Reviews established by the Peer Review Board of the American Institute of <br />Certified Public Accountants. The firm is responsibie for designing a system of quality control <br />and complying with it to provide the firm with reasonable assurance of performing and reporting <br />in conformity with applicable professional standards in all material respects. Our responsibility <br />is to express an opinion on the design of the system of quality control and the firm's compliance <br />therewith based on our review. The nature, objectives, scope, Iimitations of, and the procedures <br />performed in a System Review are described in the standards at www.aicpa.orq/prsummar~ <br />As required by the standards, engagements selecfed for review included engagements <br />performed under the Government Auditing Standards and audits of employee benefit plans. <br />In our opinion, the system of quality control for the accounting and auditing practice of Martin <br />Starnes & Associates, CPAs, PA in effect for the year ended December 31, 2008, has been <br />suitably designed and complied with to provide the firm wi#h reasonable assurance of <br />performing and reporting in conformity with applicable professional standards in all material <br />respects. Firms can receive a rating of pass, pass with deficiency(ies) or fail. Martin Starnes & <br />Associates, CPAs, PA has received a peer review rating of pass. <br />~3~y~, fi~ ~ ~.,~~..y, .~ ~~ <br />BOYCE, FURR & COMPANY, LLP <br />4900 FALLS OF THE NEUSE ROAD • SUITE 22O • RALEIGH, NORTH CAROLINA 27609 <br />919.862.0004 • Fnx: 919.862.0009 ' WWW.DOYCEFURRCPA.CO\7 <br />