Independent auditor's report.

• Position: Certified Public Accountants.

Council of the California Society of Certified Public Accountants

Board of Trustees of the California Certified Public Accountants Education Foundation

We have audited the accompanying combined statements of financial position of the California Society of Certified Public Accountants (Society) and California Certified Public Accountants Education Foundation (Foundation) as of April 30, 2010 and 2009, and the related combined statements of activities, functional expenses and cash flows for the years then ended. These financial statements are the responsibility of the management of the Society and the Foundation. Our responsibility is to express an opinion on these financial, statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Society's and foundation's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a lest basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well...