Subject: [repost] CPA bidding proposal (1/4)

From: dong (D.C.)
Date: Wed, 19 Jan 94 02:16:41 CST

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                        PROPOSAL BY MYINT & BUNTUA
                       Certified Public Accountants
                       5203 Leesburg Pike, Suite 300
                          Falls Church, VA 22041
                            Tel:  (703)845-1555

IFCSS
733 15th Street, NW
Suite 440
Washington DC 20005

Dear Mr. Lin Changsheng,

This letter is to confirm our understanding of the terms and
objectives of our engagement and the nature and limitations of
the services we will provide.

we will perform the following services:

I.   Compilation

     we will compile, from information you provide, the annual
balance sheet and the related statements of revenue,
     expenses, fund balances, and cash flows of IFCSS for the
     year ended June 30, 1993. We will not audit or review such
     financial statements. Our report on the annual financial
     statements of IFCSS is presently expected to read as
     follows:

          We have compiled the accompanying balance sheet of
          IFCSS, and the related statements of revenue, expenses,
          fund balances and cash flows for the year then ended,
          in accordance with Statements on Standards for
          accounting and Review Services issued by the American
          Institute of Certified Public Accountants.

          A compilation is limited to presenting in the form of
          financial statements information that is the
          representation of management. We have not audited or
          reviewed the accompanying financial statements and,
          accordingly, do not express an opinion or any other
          form of assurance on them.

If, for any reason, we are unable to complete the compilation of
your financial statements, we will not issue a report on such
statements as a result of this engagement.

Your bookkeeper will provide us with a detailed trial balance and
any supporting schedules we require.

II.  Federal and State Tax Returns

     We will also prepare the federal tax return 990 for IFCSS
     for the fiscal year ended June 30, 1993.

Our engagement cannot be relied upon to disclose errors,
irregularities, or illegal acts, including fraud or defalcations,
that may exist. However, we will in form you of any material
errors that come to our attention and any irregularities or
illegal acts that come to our attention, unless they are clearly
inconsequential.

     For items I and II, we estimate our fee to be $1,630.

III. Limited Review of Accounting Systems and Procedures

     We will review your current accounting system, procedures
     and administrative controls. We will report on our review
     and provide you with our recommendations.

     Our fee for Item III will be based on the number of hours
     and the staff positions of the individuals assigned. Based
     on our survey, we estimate that we will incur the following:

          Classification           Hours          Amount

          Partner                   2             $  190

          Senior                   20             $  900
                                                  -------
                                                  $1,090

We shall be pleased to discuss this letter with you at any time.

If the foregoing is in accordance with your understanding, please
sign the copy of this letter in the space provided and return it
to us.

                                   Sincerely,

                                   Ellen Myint, CPA
                                   Partner