Press Release, 04/27/04:

Speaker Schedule

The head and founder of the fraud investigation team at Vicenti, Lloyd & Stutzman (VLS), a mid-size Certified Public Accounting and business consulting firm headquartered in Glendora, is scheduled to speak to three professional organizations next month on detecting fraud in financial statements.

Linda Saddlemire, a Partner with VLS, will speak on SAS 99, a new statement on standards for the auditor's consideration of fraud in a financial statement. The new standards were adopted by the American Institute of Certified Public Accountants (AICPA) effective last year, so most audits currently being conducted of 2003 financial statements fall under the new requirements.

It was the first time the AICPA established standards related to the detection of fraud in a financial statement, Saddlemire said.

"The CPA profession today has identified a need to review more closely than ever before the potential for fraud, particularly as it applies to the auditing of financial statements,"" she said. "These issues have become particularly important in the areas of dealing with today's corporate culture, today's broader business environment, and the underlying need to maintain the public trust."

Saddlemire said federal sources estimate that fraud accounts for more than $600 billion in losses annually for U.S. businesses and governmental agencies, or a rate of about six percent a year.

She will appear before the California Society of Certified Public Accountants' School District Conference on May 3 at the Sacramento Hilton in Sacramento and again on May 4 at the Marriott Ontario Airport in Ontario.

She will speak again on the same topic before the Inland Affiliate of the American's Women's Society of Certified Public Accountants on May 13 at The Whole Enchilada in Rancho Cucamonga.

Saddlemire, who joined the firm in 1982 and was named Partner in 1989, is a Certified Fraud Examiner and heads up the firm's 10-member fraud prevention and detection team that she created 10 years ago. The team is one of several specialized litigation support services sections at VLS.

As a part of this program, VLS maintains a fraud hotline in which employees of a firm client can call VLS directly if they identify potential fraud or abuse -- potentially saving the client thousands of dollars.

Saddlemire's practice areas include audits, fraud investigation and business and consulting services such as internal control review and cash flow analysis. In addition, she heads up the firm's school district department.

She also spoke on SAS 99 last month at the California Association of School Business Officials annual conference in Sacramento. Four other VLS firm members spoke on related topics ranging from fraud detection and education funding issues to internal controls at the same four-day event.

Vicenti, Lloyd & Stutzman was founded by Richard H. Vicenti in 1953. The firm has seven Partners, and Royce Stutzman serves as Chairman. VLS has about 55 employees and serves clients throughout California.

Clients include businesses, individuals, not-for-profit organizations, universities, colleges, school districts and water districts who seek assistance through a variety of management and accounting services in managing change, making better decisions and in some instances, identifying opportunities for growth, profit or efficiency.

VLS is located at 2210 E. Route 66 (at Amelia Avenue in the Glendora Courtyard office complex) in Glendora. For more information, contact the firm's office at (626) 857-7300 or visit the firm's web site at www.VLSLLP.com.

Press Release, 01/23/04:

RELOCATION FROM LA VERNE MARKED FIRM'S 50TH ANNIVERSARY

Vicenti, Lloyd & Stutzman, leading Inland Empire / San Gabriel Valley Certified Public Accounting firm, hosts January Joint Mixer of Glendora and La Verne Chambers in new headquarters along Route 66 in Glendora

Vicenti, Lloyd & Stutzman, a mid-size Certified Public Accounting and business consulting firm headquartered in its new 24,000-square-foot facility in Glendora along historic Route 66 and celebrating the firm's 50th anniversary year, will host the January Joint Mixer of the Glendora and La Verne Chambers of Commerce on Thursday, Jan. 29.

The mixer gets under way at 5 p.m. Thursday at the VLS offices, 2210 E. Route 66 (at Amelia Avenue in the Glendora Courtyard office complex) in Glendora.

Prior to the firm's relocation last November, VLS -- long a leading accounting firm serving the Inland Empire and the San Gabriel Valley -- had been based in La Verne since its founding in 1953.

"We are delighted to be able to involve both the La Verne and Glendora Chambers," said Carl Pon, Co-Managing Partner of VLS. "While we've really only moved three miles down the road, we're in a different city with a different area code and we look forward to bringing together our old friends from La Verne and surrounding areas with our new friends, members of the Glendora Chamber, and others from our new home of Glendora."

Mary Ann Quay, also Co-Managing Partner of the firm, said the move last year naturally was a time of mixed emotions although she has enjoyed many opportunities over the past two months to meet new people.

"We're taking every opportunity possible to becoming an active participant in the community," she added. "And in the short time we've been in our new home we've already become convinced the location is a good fit. It is just a tremendous area and a wonderful community."

The Chamber admission to the mixer, as is typical with many chambers of commerce, is $5 with reservations or $7 without. For reservations, contact the Glendora Chamber of Commerce (by Tuesday, Jan. 27) at 626-963-4128.

Vicenti, Lloyd & Stutzman was founded by Richard H. Vicenti in 1953. The firm has seven Partners, and Royce A. Stutzman serves as Chairman. VLS has about 60 employees and serves clients throughout California.

Clients include businesses, not-for-profit organizations, universities, colleges, school districts, water districts and individuals who seek assistance through a variety of management and accounting services in managing change, making better decisions and, in some instances, identifying opportunities for growth, profit or efficiency.

For more information, contact the firm's new headquarters at (626) 857-7300 or visit the firm's web site at www.vlsllp.com.