0001127352-12-000001.txt : 20120228
0001127352-12-000001.hdr.sgml : 20120228
20120228104901
ACCESSION NUMBER: 0001127352-12-000001
CONFORMED SUBMISSION TYPE: NSAR-B
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20111231
FILED AS OF DATE: 20120228
DATE AS OF CHANGE: 20120228
EFFECTIVENESS DATE: 20120228
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: PEARL MUTUAL FUNDS
CENTRAL INDEX KEY: 0001127352
IRS NUMBER: 420995191
STATE OF INCORPORATION: MA
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: NSAR-B
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-10261
FILM NUMBER: 12645012
BUSINESS ADDRESS:
STREET 1: 2610 PARK AVENUE
STREET 2: P O BOX 209
CITY: MUSCATINE
STATE: IA
ZIP: 52761
BUSINESS PHONE: 3192648000
MAIL ADDRESS:
STREET 1: 2610 PARK AVENUE
STREET 2: P O BOX 209
CITY: MUSCATINE
STATE: IA
ZIP: 52761
0001127352
S000008567
Pearl Total Return Fund
C000023484
Pearl Total Return Fund
PFTRX
0001127352
S000008568
Pearl Aggressive Growth Fund
C000023485
Pearl Aggressive Growth Fund
PFAGX
NSAR-B
1
answer.fil
ANSWER FILE
PAGE 1
000 B000000 12/31/2011
000 C000000 0001127352
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 PEARL MUTUAL FUNDS
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007 C010400 4
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015 A00AA01 FIRST NATIONAL BANK OF MUSCATINE
015 B00AA01 C
PAGE 2
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015 C03AA01 52761
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022 C000002 10240
022 D000002 0
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022 C000003 7652
022 D000003 2000
022 A000004 DREYFUS OPPORTUNISTIC SMALL CAP FUND
022 B000004 13-3746591
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022 D000008 8000
022 A000009 MATTHEWS PACIFIC TIGER FUND
PAGE 3
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022 B000010 25-1796456
022 C000010 365
022 D000010 6000
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PAGE 4
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PAGE 5
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PAGE 6
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PAGE 7
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PAGE 8
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PAGE 9
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PAGE 10
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PAGE 11
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PAGE 12
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SIGNATURE RICHARD R. PHILLIPS
TITLE PRESIDENT
EX-99.77B ACCT LTTR
2
accountantletter.txt
ACCOUNTANT LETTER
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Trustees of Pearl Mutual Funds:
In planning and performing our audit of the financial statements of Pearl
Mutual Funds (collectively, the "Company"), including Pearl Total Return
Fund and Pearl Aggressive Growth Fund, as of and for the year ended
December 31, 2011 (on which we have issued our report dated February 28,
2012), in accordance with the standards of the Public Company Accounting
Oversight Board (United States), we considered the Company's internal
control over financial reporting, including controls over safeguarding
securities, as a basis for designing our auditing procedures for the purpose
of expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, but not for the purpose of expressing an opinion
on the effectiveness of the Funds' internal control over financial reporting.
Accordingly, we express no such opinion.
The management of the Company is responsible for establishing and maintaining
effective internal control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management are required to assess
the expected benefits and related costs of controls. A company's internal
control over financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles. A company's internal control over financial
reporting includes those policies and procedures that (1) pertain to the
maintenance of records thatl, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the company; (2)
provide reasonable assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the
company are being made only in accordance with authorizations of management
and trustees of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use, or
disposition of a company's assets that could have a material effect on the
financial statements.
Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also, projections of any
evaluation of effectiveness to future periods are subject to the risk that
controls may become inadequate because of changes in conditions or that the
degree of compliance with the policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists when the
design or operation of a control does not allow management or employees,
in the normal course of performing their assigned functions, to prevent or
detect misstatements on a timely basis. A material weakness is a deficiency,
or a combination of deficiencies, in internal control over financial
reporting, such that there is a reasonable possibility that a material
misstatement of the company's annual or interim financial statements will
not be prevented or detected on a timely basis.
Our consideration of the Company's internal control over financial reporting
was for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control that might be
material weaknesses under standards established by the Public Company
Accounting Oversight Board (United States). However, we noted no
deficiencies in the Company's internal control over financial reporting
and its operation, including controls for safeguarding securities that we
consider to be a material weakness, as defined above, as of December 31,
2011.
This report is intended solely for the information and use of management,
the Board of Trustees of Pearl Mutual Funds and the Securities and Exchange
Commission and is not intended to be and should not be used by anyone other
than these specified parties.
February 28, 2012