i am with kpmg llp. i will give you a brief overview of the results from the audits in 2012 and then in 2012. we are did the transportation agency, public utilities commission, international airport, and health services commission. two have single audits. one, mta, as $170 million in expenditures for 2011. there were no findings there, and we had an unqualified opinion noncompliance. the international airport as a little over $23 million in federal funds. we issued an unqualified opinion on compliance, but we did had -- have significant deficiencies in internal controls. there were four findings in the current year related to cash management, allowable costs, and reporting. we believe the city is addressing those currently. there were four findings from the prior year, and our prior recommendations were implemented. any questions on the prior year? and our audit plan for 2012, we will again audit the mta, cuc, sfo, and health services. all the reports we are preparing for the current year are listed on p

the two firms are kpmgs and ernst and young. they audited olympus' financial statements at a time when the company's former executives were covering up investment losses. the agency concluded that the auditing systems of both companies didn't function properly. it also said the auditors failed to share detailed information on olympus when ernst & young took over the auditing work from kpmg. the agency ordered the two audith companies to improve the way they do business and also requested them to report on their efforts on a regular basis. >>> people popping in to convenience stores in japan are finding products they've never found before. they can still buy a soft drink, gum or a pack of cigarettes. now they are also finding the things they need to make dinner. those kinds of changes help people at lawson, a major convenience chain, hit record operating profits last year. and they are up in the latest quarter by more than 8% to nearly 14 billion yen, or $175 million. nhk world's karuku ishibushi reports. >> reporter: the round t

the two firms are kpmg azsa and ernst & young shinnihon. they audited olympus' financial statements at a time when the company's former executives were covering up investment losses. the agency concluded that the auditing systems of both companies didn't function properly. it also said the auditors failed to share detailed information on olympus when ernst & young took over the auditing work from kpmg. the agency ordered the two auditing companies to improve the way they do business and also requested them to report on their efforts on a regular basis. >>> the yen's sustained strength isn't stopping toyota motor from trying to improve exports. these lexus cars will be shipped to the united states, china and other countries. toyota expects to sell about 10,000 of them a month. the company has taken other steps to counterer the impact of the stronger yen. it has decided to make sports utility vehicles for russia and small cars for north america outside japan, but toyota plans to keep producing lexus in japan. it aims to use the model to compe

and a member from kpmg llp will present the results of the segel audit for the airport, and she will also present the results of the audit planning for the next year. i would like to introduce cindy first. supervisor farrell: thank you very much. supervisor wiener? supervisor wiener: i just want to say that those people that are here for items one and two, thank you very much. we plan to get to those pretty quickly. >> good morning. thank you for inviting us to discuss this city's audits. the deliverables issued by mgo included in your package include the fiscal year 2011 with the government bought it and oversight committee. the segel audit report and the audit plan for fiscal year 2012. the me first start with the report to the government audit and oversight committee. this report includes the communication we as auditors are required

kpmg joins us for me. nicki this decision expected, i guess, but how will australia remain -- to china? >> very vulnerable our rue is very much that china while it might have a slowdown, that's a good thing. that means it's long-term but more sustainable growth. we're tied in through resources sector. as i said, we expect the china story to remain quite firm. >> nicki, do you think that the second quarter inflation figure could potentially surprise people and not be quite as soft as anticipated, thereby not leaving room for another cut come this late summer? >> look, kpmg is that there won't be another cap this cycle. inflation has been held back here very much in terms of the australian dollar driving the price of trade of goods down. in fact, i think the reserve bank alluded to that in the elise today that accompanied no change rate decision. from our perspective, the downside on inflation has actually well pretty well fed through. prices are well-behaved. over the course of the coming year, we'll start

and i had been at kpmg, and i understood the service business. so i grew to love what i now do. >> so, doron, you started a very unusual business. you have a very successful vegan bakery. you, obviously, had to go out and get financing, you had to get somebody to help you get the business off the ground. was it harder to get financing for your nascent business because you're a woman, or were there challenges, do you think, that came to you getting financing because you're a woman? [laughter] >> what a fun topic. yes, and i'm still dealing with this today. about ten years ago when we incorporated our business, i started with a loan, and, um, no knowledge of the business side of what i was doing. i just knew that there was a need for what i was already creating and making in my home, there was a demand for it, and i knew that i could -- i knew i could do it. i don't know how i knew, i just knew, right? just some magic. and i thought, well, i need some money. and my friend said, well, i have some money, i have $20,000. i said, great, that's enough.