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<SEC-DOCUMENT>0000786035-08-000004.txt : 20080311
<SEC-HEADER>0000786035-08-000004.hdr.sgml : 20080311
<ACCEPTANCE-DATETIME>20080311170229
ACCESSION NUMBER:		0000786035-08-000004
CONFORMED SUBMISSION TYPE:	NSAR-B/A
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20071231
FILED AS OF DATE:		20080311
DATE AS OF CHANGE:		20080311
EFFECTIVENESS DATE:		20080311

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIBERTY ALL STAR GROWTH FUND INC.
		CENTRAL INDEX KEY:			0000786035
		IRS NUMBER:				521542208
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NSAR-B/A
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04537
		FILM NUMBER:		08681356

	BUSINESS ADDRESS:	
		STREET 1:		C/O ALPS FUND SERVICES, INC.
		STREET 2:		P.O. BOX 328
		CITY:			DENVER
		STATE:			CO
		ZIP:			80201-0328
		BUSINESS PHONE:		303.623.2577

	MAIL ADDRESS:	
		STREET 1:		C/O ALPS FUND SERVICES, INC.
		STREET 2:		P.O. BOX 328
		CITY:			DENVER
		STATE:			CO
		ZIP:			80201-0328

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LIBERTY ALL STAR GROWTH FUND INC /MD/
		DATE OF NAME CHANGE:	19960612

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLMON CHARLES TRUST INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GROWTH STOCK OUTLOOK TRUST INC
		DATE OF NAME CHANGE:	19910807
</SEC-HEADER>
<DOCUMENT>
<TYPE>NSAR-B/A
<SEQUENCE>1
<FILENAME>answer.fil
<TEXT>
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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SIGNATURE   KIM STORMS
TITLE       ASSISTANT TREASURER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>lasg77b.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>INDEPENDENT AUDITORS&#8217; REPORT</TITLE>
<META NAME="author" CONTENT="Cartwright, Rebecca Ierlene (US - Denver)">
<META NAME="date" CONTENT="02/28/2008">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<A NAME="OLE_LINK1"></A><A NAME="OLE_LINK2"></A><P style="line-height:1pt; margin-top:0pt; margin-bottom:11pt"><BR></P>
<P style="line-height:13pt; margin-top:99pt; margin-bottom:20.15pt; padding-left:8.65pt; text-indent:-8.65pt; font-family:Arial; font-size:11pt"><FONT FACE="Arial" COLOR=#000000><B>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></FONT></P>
<P style="line-height:13pt; margin-top:4.6pt; margin-bottom:4.6pt; font-size:11pt"><FONT FACE="Times New Roman">To the Shareholders and Board of Directors of <BR>
Liberty All-Star&#174; Growth Fund, Inc.:</FONT></P>
<P style="line-height:13pt; margin-top:4.6pt; margin-bottom:4.6pt; font-size:11pt">In planning and performing our audit of the financial statements of Liberty All-Star&#174; Growth Fund, Inc. (the &quot;Fund&quot;) as of and for the year ended December 31, 2007, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Fund&#146;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 Fund&#146;s internal control over financial reporting.&nbsp; Accordingly, we express no such opinion.</P>
<P style="line-height:13pt; margin-top:4.6pt; margin-bottom:4.6pt; font-size:11pt">The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting.&nbsp; In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls.&nbsp; A fund'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.&nbsp; A fund's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financ
ial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and directors of the fund; and (3)<FONT COLOR=#FF0000> </FONT>provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a fund's assets that could have a material effect on the financial statements.</P>
<P style="line-height:13pt; margin-top:4.6pt; margin-bottom:4.6pt; font-size:11pt">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.&nbsp; 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.</P>
<P style="line-height:13pt; margin-top:4.6pt; margin-bottom:4.6pt; font-size:11pt">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.&nbsp; 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 fund's annual financial statements will not be prevented or detected on a timely basis.</P>
<P style="line-height:13pt; margin-top:4.6pt; margin-bottom:4.6pt; font-size:11pt">Our consideration of the Fund&#146;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).&nbsp; However, we noted no deficiencies in the Fund&#146;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, 2007.</P>
<P style="line-height:13pt; margin-top:0pt; margin-bottom:11pt; font-size:11pt">This report is intended solely for the information and use of management and the Board of Directors of Liberty All-Star&#174; Growth Fund, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.</P>
<P style="margin-top:0pt; margin-bottom:10.5pt"><BR>
<BR></P>
<P style="line-height:12.5pt; margin-top:0pt; margin-bottom:10.5pt; font-size:10.5pt">/s/Deloitte &amp; Touche LLP</P>
<P style="margin-top:0pt; margin-bottom:10.5pt"><BR></P>
<P style="line-height:12.5pt; margin-top:0pt; margin-bottom:10.5pt; font-size:10.5pt">Denver, Colorado</P>
<P style="line-height:12.5pt; margin-top:0pt; margin-bottom:10.5pt; font-size:10.5pt">February 25, 2008</P>
<P style="margin-top:0pt; margin-bottom:10.5pt"><BR>
<BR></P>
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<DOCUMENT>
<TYPE>EX-99.77K CHNG ACCNT
<SEQUENCE>3
<FILENAME>lasg77ka.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>February 29, 2008</TITLE>
<META NAME="author" CONTENT="THENK001">
<META NAME="date" CONTENT="03/10/2008">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-family:Arial; font-size:12pt"><FONT FACE="Arial" COLOR=#000000>March 10, 2008</FONT></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-family:Arial; font-size:12pt">Securities and Exchange Commission</P>
<P style="line-height:14pt; margin:0pt; font-family:Arial; font-size:12pt">100 F Street, N.E.</P>
<P style="line-height:14pt; margin:0pt; font-family:Arial; font-size:12pt">Washington, D.C. 20549</P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-family:Arial; font-size:12pt">Commissioners:</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-family:Arial; font-size:12pt">We have read the statements made by Liberty All-Star Growth Fund, Inc. (the &quot;Fund&quot;) (copy attached), which we understand will be filed with the Commission as part of the Fund's Amendment to Form N-SAR filed with the Commission on March 10, 2008. &nbsp;We agree with the statements concerning our Firm in such Form N-SAR. &nbsp;</P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-family:Arial; font-size:12pt">/s/ PricewaterhouseCoopers LLP</P>
<P style="line-height:14pt; margin:0pt; font-family:Arial; font-size:12pt">Boston, Massachusetts</P>
<P style="margin:0pt"><BR>
<BR></P>
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<TYPE>EX-99.77K CHNG ACCNT
<SEQUENCE>4
<FILENAME>lasg77kb.htm
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<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>Sub-Item 77K: &nbsp;Changes in registrant&#8217;s certifying accountant</TITLE>
<META NAME="author" CONTENT="clousew">
<META NAME="date" CONTENT="03/10/2008">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt"><FONT FACE="Times New Roman" COLOR=#000000>Sub-Item 77K: &nbsp;Changes in registrant&#146;s certifying accountant</FONT></P>
<P style="margin:5pt"><BR></P>
<P style="line-height:14pt; margin-top:7.2pt; margin-bottom:0pt; padding-right:3.6pt; font-size:12pt">The Board of Directors of Liberty All-Star Growth Fund, Inc. (the &#147;Fund&#148;) has selected Deloitte &amp; Touche LLP (&#147;D&amp;T&#148;) as independent registered public accountants for fiscal year ended December 31, 2007. &nbsp;Financial statements for the Fund&#146;s fiscal year ended December 31, 2006 were audited by PricewaterhouseCoopers LLP (&#147;PwC&#148;). &nbsp;</P>
<P style="margin:5pt"><BR></P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:6pt; text-indent:10.5pt; font-size:12pt" align=justify>From September, 1999 to August&nbsp;6, 2007, PwC served as the Fund&#146;s independent registered public accounting firm. &nbsp;During the two most recent fiscal years, PwC&#146;s audit reports contained no adverse opinion or disclaimer of opinion; nor were its reports qualified or modified as to uncertainty, audit scope, or accounting principles. &nbsp;Further, in connection with its audits for the two most recent fiscal years and through August&nbsp;6, 2007, there were no disagreements between the Fund and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which, if not resolved to the satisfaction of PwC, would have caused it to make reference to the subject matter of the disagreement in its report on the financial statements for such years. &nbsp;</P>
<P style="margin:5pt"><BR></P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Neither the Fund nor anyone on its behalf consulted with Deloitte on items which (i) concerned the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Fund&#146;s financial statements or (ii) concerned the subject of a disagreement (as defined in paragraph (a)(1)(iv) of Item 304 of Regulation S-K) or a reportable event (as described in paragraph (a)(1)(v) of said Item 304). &nbsp;</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">The Fund has requested that PwC furnish it with a letter addressed to the SEC stating whether PwC agrees or does not agree with the Fund&#146;s response to Item 304(a) of Regulation S-K.</P>
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