BALA CYNWYD, PA  -  July 2005 –The CPA firm of Margolis & Company P.C. has been one of the first certified public accounting firms in the area to be fully inspected by the Public Company Accounting Oversight Board (PCAOB). The prestigious firm received a “clean bill of health” by the PCAOB after an inspection of the way the firm conducts its practice.

“The glowing report received from the PCAOB is a direct result of the commitment and dedication of our highly skilled professionals. This will open the door for the firm to pursue more work with the smaller publicly traded companies that we are currently targeting”, said Joseph Coluzzi, Managing Principal of Margolis & Company P.C.

Section 104 of the Sarbanes-Oxley Act of 2002 (“the Act”) requires the PCAOB to conduct a continuing program of inspections of registered public accounting firms. In those inspections, the PCAOB assesses compliance with the Act, the rules of the PCAOB, the rules of the Securities and Exchange Commission, and professional standards, in connection with the firm’s performance of audits, issuance of audit reports, and related matters involving issuers. The Act requires the Board to conduct those inspections annually for firms that provide audit reports for more than 100 issuers and at least triennially for firms that provide audit reports for fewer issuers.

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Based in Bala Cynwyd, PA, Margolis & Company is one of the largest regional accounting and business consulting firms in the Philadelphia area. The firm provides accounting, business advisory and strategic & tactical business planning services to middle-market, privately-owned and publicly-held companies, primarily in the Philadelphia tri-state region.