TVN 00 01 audit

THE VETIVER NETWORKFinancial StatementsDecember 31, 2001 and 2000THE VETIVER NETWORKContentsPageINDEPENDENT AUDITOR’S REPORT 1FINANCIAL STATEMENTSStatements of Financial Position 2Statements of Activities 3Statements of Cash Flows 4NOTES TO FINANCIAL STATEMENTS 5INDEPENDENT AUDITOR’S REPORTON THE SCHEDULE OF DANISH GRANT ACTIVITY 9SCHEDULE OF DANISH GRANT ACTIVITY 10INDEPENDENT AUDITOR’S REPORTTo Board of DirectorsThe Vetiver NetworkArlington, VirginiaWe have audited the accompanying statements of financial position of The Vetiver Network (TVN)(a nonprofit organization) as of December 31, 2001 and 2000, and the related statements of activitiesand cash flows for the years then ended. These financial statements are the responsibility of TVN’smanagement. Our responsibility is to express an opinion on these financial statements based on ouraudits.We conducted our audits in accordance with auditing standards generally accepted in the UnitedStates of America. Those standards require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of material misstatement. An audit includesexamining, on a test basis, evidence supporting the amounts and disclosures in the financialstatements. An audit also includes assessing the accounting principles used and significant estimatesmade by management, as well as evaluating the overall financial statement presentation. We believethat our audits ...