upr000069 85

L&ffl V'eg&s, I w A May 10, 195*» S i Mr* R, M* S u t t o n : ( 2 ) Just before noon Mr. Conway stated that he proposed to cheek out in dotal! a l l o f tbs data underlying pr&otioftlly every account affeating the addition® to and deduction® from the basic purchase prise* Mr* McSafforty Ins truetod them In the mechanics for checking one work order M s morning* It took nearly two hour®, and they have lots of those protest® to cheek not counting the cheek of the other assets and liabilities. They started with the balance sheet* Took the journal entry and tested out the Increase in the investment account this month over last month with the balance sheet* Tied into the above figure, the additions sines September 1, 1952. Took the work sheet showing the work orders and amounts making up those add!tione. Called for the h90?'s sheering the details o f th e work. Called for the documents underlying those details* They were very well pleased* Mo exceptions taken that I know of* Mr. Conway said that he proposed to assign a third Accountant to this job, probably beginning tomorrow. He also said that he was Instructed to make a thorough audit as he saw it necessary, and stated that in his opinion It would take some two weeks to do so* The foregoing supplements Report io * 1 "l^our tele­phone conversation this morning* Further report® will be submitted as the audit progresses*