Independent CPA firm completes audit

By Meg E. Halloran, Partner

The annual audit of our clients’ managed account portfolio performance, conducted by an independent certified public accounting firm, was completed in May.

The audit helps verify Midwest Investment Management’s adherence to specified pro-fessional practices and code of conduct, while promoting full disclosure and fair representation of investment results for clients.

The audit also provides assurance to prospective clients that our composite results are presented in compliance with established professional standards.

Committed to integrity

“The audit process is detailed, arduous, and costly,” said J. Mark Wipper, Midwest Invest-ment Management’s managing partner. “However, it demonstrates our commitment to reporting investment results with absolute integrity.”

The audit is based on the Performance Presentations Standards (PPS) of the CFA Institute® (formerly known as AIMR, the Association for Investment Management and Research), recognized around the world for setting the highest standards of professional conduct within the financial community.

The PPS® standards are recognized by government regulatory agencies and private industry as the benchmark for performance measurement.

* * *

Clients can receive a copy of the verification report for 2004 or a complete list and descrip-tion of Midwest Investment Management’s composites and a presentation that adheres to the CFA Institute-PPS® standards by mailing a written request to Norman F. Klopp, Jr., CFA, Midwest Investment Management, 1301 East 9th St., Cleveland, OH 44114

Midwest Investment Management claims compliance with the CFA Institute Performance Presentations Standards (PPS®), the U.S. and Canadian version of GIPS. The CFA Institute has not been involved with or reviewed Midwest Investment Management’s claim of compliance.