i am the kpmg audit partner, and i served as the audit partner for all three of the entities that he mentioned. i will be very brief but you have 11 pages in front of you that are required communications. i think they are pretty clear as they are. as he said, we did complete all three of its with unqualified opinions, had no material findings, had no disagreements with management during the course of those audits, and issue them in line with the timelines is said by the controller's office of the puc management, which was well ahead of the prior year's timeline. i am here to answer any questions you may have. our presentation does speak for itself. commissioner vietor: thank you. any questions from the commission, comments? >> no, it looks good. thank you so much for your hard work. >> thank you. it is a pleasure to work with the puc. thank you. commissioner vietor: thank you. >> next is our quarter one financials. i will give you an update their pit our deputy cfo presented it this month to you, so you can get to know her better as well. i want to thank francis because she does a lo

of where we were last year is that we have published those financial statements with the review of kpmg, our external independent auditors. we coordinated that review with the city comptroller's office, which also does an independent review of our financial matters. those were all published without any findings, what is called clean audits, as of october 28. the clean audits are the final outcome of last year, and i wanted to update you that we have been awarded in the government finance officers awards for certificates of excellence in reporting, having very transparent clean financial statements. we have been awarded that as well for our annual financial report, our summary financial report, and our budget book. the item before you today is specifically the annual audits, and i will turn it over to the partner in charge at kpmg to give you her high level, and some of our financial condition. >> good afternoon. i am the kpmg audit partner, and i served as the audit partner for all three of the entities that he mentioned. i will be very brief but you have 11 pages in front of you that a

those questions need to be answered by both kpmg and ernst & young. >> do you think it goes hand in govd-school japanese bosses which seems to be he and his old-school bosses who like this kind of subterfuge? you know, might, as a result of the questions you want to ask? >> i think after enron, there is a great sensitivity in relation to auditors. certainly in the uk. the partners did their duty. they qualified the accounts. and i think they have to answer. they have to stand up, both of those large firms, and explain their part in this. >> former ceo michael woodford. olympus has admitted that three of its top executives concealed losses from investors. their departure is unlikely to satisfy their shareholders and calls are growing for the scalps as well as the entire board. but is olympus in good enough shape to weather this crisis even under new leadership? we asked david, chief investment officer at the wealth management firm harris associates. >> i believe it is. and i say that because they have a world-leading business. they have roughly 70, 75% market share. they're a technologic

of where we were last year is that we have published those financial statements with the review of kpmg,

of where we were last year is that we have published those financial statements with the review of kpmg, our external independent auditors. we coordinated that

of where we were last year is that we have published those financial statements with the review of kpmg, our external independent auditors. we coordinated that review with the city comptroller's office, the city comptroller's office, which also does an independent