Management letter

The audit of the Inter-American Institute for Global Change Research for the year ended June 30, 2003, resulted in a qualified opinion due to departures from US generally accepted accounting principles. Specifically, the institute recognizes total project expenses and liabilities upon the signing of research grant agreements rather than proportionally to research activity, and it has failed to recognize the fair value of related accounts receivable and payable.

• KPMG issued a qualified opinion on the financial statements of the Inter-American Institute for Global Change Research for the year ended June 30, 2003, citing departures from generally accepted accounting principles in the United States of America.
• The institute's project management policies lead to the recognition of total project expenses and liabilities when research grant agreements are signed, rather than recognizing actual expenses and payables proportionally to the development of research activity.
• The institute has not calculated or recognized the fair value of accounts payable and receivable related to research projects at the balance sheet dates, meaning the impact on the results of operations and financial position has not been determined.

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} }