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Audited Financial Report for Fiscal
Year Ending 30 June 2000 (Audit Letter)
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INTERNET CORPORATION
FOR ASSIGNED NAMES AND NUMBERS
Financial Statements
June 30, 2000
(With Independent Auditors' Report Thereon)
KPMG
355 South Grand Avenue
Suite 2000
Los Angeles, CA 90071-1568
Independent Auditors' Report
The Board of Directors
Internet Corporation for Assigned Names and Numbers:
We have audited the accompanying statement
of financial position of Internet Corporation for Assigned Names
and Numbers (ICANN) as of June 30, 2000 and the related statements
of activities and cash flows for the year then ended. These financial
statements are the responsibility of ICANN's management. Our
responsibility is to express an opinion on these financial statements
based on our audit.
Except as discussed in the following paragraph,
we conducted our audit in accordance with auditing standards
generally accepted in the United States of America. Those standards
require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management,
as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our
opinion.
We were unable to obtain sufficient verifiable
evidence supporting certain Country Code Top Level Domain (ccTLD)
accounts receivable totaling $1,355,000 at June 30, 2000 or the
related registry fee revenue, which is included in the change
in net assets for the year then ended as described in note 2
to the financial statements; nor were we able to satisfy ourselves
as to the adequacy of the allowance for doubtful accounts related
to these receivables.
In our opinion, except for the effects
of such adjustments, if any, as might have been determined to
be necessary had we been able to examine verifiable supporting
evidence regarding the accounts receivable, allowance for doubtful
accounts and related registry fees, as discussed in the third
paragraph of this report, the financial statements referred to
in the first paragraph above present fairly, in all material
respects, the financial position of Internet Corporation for
Assigned Names and Numbers as of June 30, 2000 and the changes
in its net assets and its cash flows for the year then ended
in conformity with accounting principles generally accepted in
the United States of America.
/s/ KPMG LLP
September 18, 2000
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Page Updated 10-November-00
(c) 2000 The Internet
Corporation for Assigned Names and Numbers.
All rights reserved.
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