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SIGNATURE ROBERT P. NAULT
TITLE ASST. SECRETARY
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REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Board of Trustees of
Pioneer Gold Shares:
In planning and performing our audit of the financial statements of Pioneer Gold
Shares for the year ended October 31, 1998, we considered its internal control
structure, including procedures 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, and
not to provide assurance on the internal control structure.
The management of Pioneer Gold Shares is responsible for establishing and
maintaining an internal control structure. In fulfilling this responsibility,
estimates and judgements by management are required to assess the expected
benefits and related costs of internal control structure policies and
procedures. The objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also projection of any evaluation
of the structure 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 the internal control structure would not necessarily
disclose all matters in the internal control structure 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 the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements 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 the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
October 31, 1998.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
/s/Arthur Andersen LLP
Boston, Massachusetts
December 4, 1998
Pioneer Gold Shares
10/31/98 NSAR
Sub-Item 77C: Submission of matters to a vote of security holders (Y)
(a) Pioneer Growth Trust (the predecessor of the registrant) adjourned its
special meeting of shareholders on Thursday, June 18, 1998.
(b) Previously reported.
(c) Proposal 3 from the registrant's definitive proxy statement filed
electronically with the Commission on March 12, 1998 (Accession No. 0001016964-
98-000016) is incorporated herein by reference in response to this sub-item.
The results of shareholder voting under the caption "Results of Shareowner
Meeting" from the registrant's October 31, 1998 annual report to shareholders
filed electronically with the Commission on December 22, 1998 (Accession No.
0000869352-98-000006) are also incorporated herein by reference in response to
this sub-item.
(d) None.
