Management Report Prepared in Connection with the Audit of the Inter-American Foundation’s Financial

Management Report Prepared in Connection with the Audit of the Inter-American Foundation’s Financial Statements for the Fiscal Year Ended September 30, 2001 Audit Report No. 0-IAF-02-005-F March 20, 2002 Washington, D.C. 1U.S. Agency for International DevelopmentOffice of Inspector GeneralFinancial Audits DivisionMEMORANDUMFOR: Mr. David ValenzuelaFROM: IG/A/FA, Alvin A. BrownSUBJECT: Management Report Prepared in Connection with the Audit of theInter-American Foundation’s Financial Statements for the FiscalYear Ended September 30, 2001 (Report No. 0-IAF-02-005-F)The enclosed management report prepared by Gardiner, Kamya & Associates, P.C. (GKA) inconnection with the Audit of the Inter-American Foundation’s Financial Statements for theFiscal Year Ended September 30, 2001, is provided for your information. The auditors madethree separate observations with three corresponding recommendations in the enclosed report.The management report prepared by GKA is included in its entirety in Appendix I. Yourcomments from the report are included in Appendix II. Based on the comments provided, weconsider final management decisions to have been reached on each of the threerecommendations included in this report.We appreciate the cooperation and courtesies that your staff extended to my staff, and tothe GKA staff during the audit. If you have questions concerning this report, pleasecontact Andrew Katsaros at (202) 712-4902.Enclosure (as ...