Report of Independent Registered Public Accounting
Firm

Board of Trustees of Northern Lights Fund Trust III and
the Shareholders of HCM Tactical Growth Fund, HCM
Dividend Sector Plus Fund, HCM Income Plus Fund and
HCM Dynamic Income Fund

In planning and performing our audits of the financial
statements of HCM Tactical Growth Fund, HCM
Dividend Sector Plus Fund, HCM Income Plus Fund and
HCM Dynamic Income Fund (collectively, the Funds) as
of and for the year ended June 30, 2023, in accordance
with the standards of the Public Company Accounting
Oversight Board (United States) (PCAOB), we
considered the Funds 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-CEN, 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 Funds 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 funds 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 (GAAP). A funds internal control over financial
reporting includes those policies and procedures that (a)
pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and
dispositions of the assets of the fund; (b) provide
reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements
in accordance with GAAP, and that receipts and
expenditures of the fund are being made only in
accordance with authorizations of management and
trustees of the fund; and (c) provide reasonable
assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of a funds
assets that could have a material effect on the financial
statements.

Because of 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 combination of deficiencies,
in internal control over financial reporting, such that there
is a reasonable possibility that a material misstatement
of the Funds annual or interim financial statements will
not be prevented or detected on a timely basis.

Our consideration of the Funds 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
PCAOB. However, we noted no deficiencies in the
Funds internal control over financial reporting and their
operation, including controls over safeguarding
securities, that we consider to be a material weakness
as defined above as of June 30, 2023.

This report is intended solely for the information and use
of management and the Board of Trustees of the 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.

/s/ RSM US LLP

Denver, Colorado
August 29, 2023







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