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Koonce, Wooten & Haywood,LLP <br /> CERTIFIED PUOUC ACCOUMAMS <br /> SYSTEM REVIEW REPORT <br /> May 22, 2012 <br /> Martin, Starnes &Associates, CPAs,PA and the <br /> Peer Review Committee, North Carolina Association <br /> of Certified Public Accountants <br /> We have reviewed the system of quality control for the accounting and auditing practice of Martin, <br /> Starnes & Associates, CPAs, PA (the firm) in effect for the year ended December 31, 2011. Our <br /> peer review was conducted in accordance with the Standards for Performing and Reporting on Peer <br /> Reviews established by the Peer Review Board of the American Institute of Certified Public <br /> Accountants. The firm is responsible for designing a system of quality control and complying with <br /> it to provide the firm with reasonable assurance of performing and reporting in conformity with <br /> applicable professional standards in all material respects.Our responsibility is to express an opinion <br /> on the design of the system of quality control and the firm's compliance therewith based on our <br /> review. The nature, objectives, scope, limitations of, and the procedures performed in a System <br /> Review are described in the standards at www.aicpa.orglprsummary. <br /> As required by the standards, engagements selected for review included engagements performed <br /> under the Governinent 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 31,2011,has been suitably <br /> designed and complied with to provide the firm with reasonable assurance of performing and <br /> reporting in conformity with applicable professional standards in all material respects. Firms can <br /> receive a rating of pass,pass with deficiency(ies)or fail. Martin, Starnes &Associates, CPAs,PA <br /> has received a peer review rating of pass. <br /> Koonce, Wooten & Haywood, LLP <br /> Raleigh Durham Plttsboro <br /> 4060 Barrett Drive 3511 Shannon Road 10 Sanford Road <br /> Post Office Box 17806 Suite 100 Post Office Box 1399 <br /> Raleigh,North Carolina 27619 Durham,North Carolina 27707 Pittsboro,North Carolina 27312 <br /> 919 782 9265 919 354 2584 919 542 6000 <br /> 919 783 8937 FAX 919 489 8183 FAX 919 542 5764 FAX <br />