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Soren McAdam Christenson LLP
Certified Public Accountants and Business Advisors

Contact: Roger Wadell, Partner
909.798.2222

PR Contact: Ron Burgess
909.798.5737

Redlands California, February 10, 2005

Soren McAdam Christenson LLP meets Sarbanes-Oxley challenge with specialized team

Roger Wadell, partner with Soren McAdam Christenson, announced the recent formation of their Sarbanes-Oxley Act team to meet the large demand for new accounting requirements mandated by this legislation.

This legislation, aimed at publicly traded companies, has delayed IT deployments, over-committed internal accounting departments, and brought some companies to near panic. As part of the wake caused by the Enron scandal, the legislation seems to have crept up on many companies. Wadell estimates that a number of companies did not meet their compliance deadline, which for large public companies is December 31, 2004 .

Part of the problem with Sarbanes-Oxley (shortened in the industry to SOX) is the need for knowledgeable accountants to perform the compliance work. If an outside Certified Public Accounting firm is called upon to help, it must be a firm other than the company’s regular audit firm. Smaller CPA firms generally lack the resources or experience, and the largest firms are already booked solid due to the mass amount of work generated by the legislation.

Soren McAdam Christenson formed their specialized Sarbanes-Oxley team late last summer, hiring as team leader a CPA with experience in the SOX process. As a regional CPA firm, SMC has the resources and expertise necessary to quickly respond to this situation. SMC has already completed a project in Alabama and is presently engaged in another large SOX project in Orange County. “SMC is very pleased with the immediate work generated because of our SOX initiative,” states Dave Tuttle, SMC partner in charge of the new SOX team. “We have a highly qualified and trained team in place to perform to the standards of the legislation. This is a special kind of work that requires knowledge beyond taxation or normal financial accounting.”

Experienced CPA and Managing Partner of SMC, Doug McAdam states, “It is rare in the accounting industry that this kind of impact to business is legislated with such a short lead time. Most CPA firms are simply not prepared to deal with a SOX project. Soren McAdam Christenson is pleased to lead our market in this specialized area.”

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