Management letter

A management letter from KPMG Auditores Independentes to the Board of Directors of the Inter-American Institute for Global Change Research (IAI) regarding the audit of financial statements for the year ended June 30, 2003.

• KPMG Auditores Independentes issued a qualified opinion on the financial statements of the Inter-American Institute for Global Change Research (IAI) for the year ended June 30, 2003, due to departures from generally accepted accounting principles in the United States of America.
• The audit identified issues with how IAI recognizes project expenses and liabilities; specifically, these are recognized upon the signing of research grant agreements rather than proportionally to the development of research activity. Furthermore, IAI failed to calculate and recognize the fair value of accounts receivable and payable for research projects at balance sheet dates.
• KPMG recommended that IAI management reevaluate its current accounting procedures for research grant agreements and the associated accounts receivable and payable.

APA

Inter-American Institute for Global Change Research (2003). Management letter. https://archive.iai.int/admin/site/sites/default/files/9_ManLetter.pdf

Chicago

Inter-American Institute for Global Change Research. Management letter. 2003. https://archive.iai.int/admin/site/sites/default/files/9_ManLetter.pdf.

Wikipedia

{{cite report |author=Inter-American Institute for Global Change Research |title=Management letter |date=August 2003 |url=https://archive.iai.int/admin/site/sites/default/files/9_ManLetter.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{interamericaninstituteforglobalchangeresearch2003management, author = {{Inter-American Institute for Global Change Research}}, title = {{Management letter}}, institution = {Inter-American Institute for Global Change Research}, year = {2003}, month = aug, url = {https://archive.iai.int/admin/site/sites/default/files/9_ManLetter.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }