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SIGNATURE JACKIE PORTER
TITLE DIRECTOR
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EXHIBIT INDEX
Exhibit A: Attachment to item 77B:
Accountant's report on internal control
- -------------------------------------------------------
Exhibit A:
June 11, 1999
To the Shareholders and Trustees of
Phoenix Income and Growth Fund
In planning and performing our audit of the
financial statements and financial highlights of
the Phoenix Income and Growth Fund (the "Fund")
for the year ended April 30, 1999, we considered
its internal control, including control
activities for safeguarding securities, in order
to determine our auditing procedures for the
purpose of expressing our opinion on the
financial statements and to comply with the
requirements of Form N-SAR, not to provide
assurance on internal control.
The management of the Fund is responsible for
establishing and maintaining internal control.
In fulfilling this responsibility, estimates and
judgments by management are required to assess
the expected benefits and related costs of
controls. Generally, controls that are relevant
to an audit pertain to the entity's objective of
preparing financial statements and financial
highlights for external purposes that are fairly
presented in conformity with generally accepted
accounting principles. Those controls include
the safeguarding of assets against unauthorized
acquisition, use or disposition.
Because of inherent limitations in internal
controls, errors or fraud may occur and not be
detected. Also, projection of any evaluation of
internal control to future periods is subject to
the risk that it may become inadequate because of
changes in conditions or that the effectiveness
of the design and operation may deteriorate.
Our consideration of internal control would not
necessarily disclose all matters in internal
control that might be material weaknesses under
standards established by the American Institute
of Certified Public Accountants. A material
weakness is a condition in which the design or
operation of one or more of the internal control
components does not reduce to a relatively low
level the risk that misstatements caused by
errors or fraud in amounts that would be material
in relation to the financial statements and
financial highlights being audited may occur and
not be detected within a timely period by
employees in the normal course of performing
their assigned functions. However, we noted no
matters involving internal control and its
operation, including controls for safeguarding
securities, that we consider to be material
weaknesses as defined above as of April 30, 1999.
This report is intended solely for the
information and use of management, the Trustees
of the Fund, and the Securities and Exchange
Commission.
PricewaterhouseCoopers LLP
