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Report of the Treasurer to the Council 1995-1996 (1996) / Chapter Skim
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Independent Auditors' Report
Pages 32-32

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From page 32...
... We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the National Academy of Sciences as of June 30, 1996, and the changes in its net assets and its cash flows for the year then ended in conformity with generally accepted account .
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Key Terms

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  • material misstatement
  • nas adopted

  • financial position
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  • standards require
  • national academy
  • overall financial

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  • accepted auditing
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  • includes assessing
  • reasonable basis

  • audit provides
  • significant estimates
  • sing principles
  • statement presentation
  • accounting principles


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