|AN INDEPENDENT COST ASSESSMENT OF THE NATION'S HIGH-LEVEL NUCLEAR WASTE PROGRAM|
April 23, 1998
Mr. Robert R. Loux
Dear Mr. Loux:
Pursuant to your request, KPMG Peat Marwick LLP ("KPMG") has completed its review of "An Independent Cost Assessment of the Nations's High Level Nuclear Waste Program", February 1998 ("Study"), prepared by Planning Information Corporation, Thompson Professional Group and Decision Research Institute, and hereby submits this summary letter describing work performed and conclusions reached.
KPMG was retained to provide the agreed upon procedures of "Peer Review" of the Study, pursuant to the engagement letter dated June 4, 1997. Of the limited tasks set forth below, the calculations tested were found to be accurate, the Study's assumptions appear to be supportable, and KMPG's peer review is complete.
The agreed upon procedures which constitute the peer review include the following:
To complete the above described agreed upon procedures, KPMG performed certain tasks including the following:
The procedures performed do not constitute an audit, examination or review in accordance with standards established by the American Institute of Certified Public Accountants and therefore, we do not make any representations regarding the sufficiency of the procedures performed for your informational needs. The term "review" has a defined meaning in U.S. accounting and auditing literature; however, the term "review" as used in this letter is intended to refer to obtaining and analyzing information, and does not encompass the term or scope of engagement defined in the accounting and auditing literature.
Should you have and questions or comments regarding KPMG's completion of these services, please call me at (213) 955-8994.
KPMG Peat Marwick LLP
Joseph S. D'Antoni