tonneson + co

Peer Review Report

HEINOLD-BANWART, LTD.
Certified Public Accountants
201 Clock Tower Drive
Third Floor
East Peoria, IL 61611-2449
Tel 309.694.4251 | Fax 309.694.4202 | Web www.hbcpas.com
November 21, 2014

We have reviewed the system of quality control for the accounting and auditing practice of Tonneson & Company, Inc. (the firm) in effect for the year ended June 30, 2014. Our peer review was conducted in accordance with the Standards for Performing and Reporting on Peer Reviews established by the Peer Review Board of the American Institute of Certified Public Accountants. As part of our peer review, we considered reviews by regulatory agencies, if applicable, in determining the nature and extent of our procedures. The firm is responsible for designing a system of quality control and complying with it to provide the firm with reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects. Our responsibility is to express an opinion on the design of the system of quality control and the firm’s compliance therewith based on our review. The nature, objectives, scope, limitations of, and the procedures performed in a System Review are described in the standards at www.aicpa.org/prsummary.

As required by the standards, engagements selected for review included an engagement performed under Government Auditing Standards and audits of employee benefit plans.

In our opinion, the system of quality control for the accounting and auditing practice of Tonneson
& Company, Inc. in effect for the year ended June 30, 2014, has been suitably designed and complied
with to provide the firm with reasonable assurance of performing and reporting in conformity with
applicable professional standards in all material respects. Finns can receive a rating of pass,
pass with deficiency(ies) or fail. Tonneson & Company, Inc. has received a peer review rating of pass.

Signed,
Heinold-Banwart, LTD.

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