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I C0081913E . OELbOID 001*.mnD w m m . ( o u D OIDUYOI ouo..o cooPuns,-;: LVUWA m a n 0 0 1.. .Dam - . cumoa ma .m~oswam, United States Nati<&l Student Aseocfation Phi lade lph fa We Rave examined the ffnansial statements of United States National Student Association, Foreign Students badershfp Project for the year ended September 30. 1962. Our exadnation was made In accordance wfth generally accepted auditing &stand- ands, and accordingly Included mch tests of the accounting m c - orcPa and such other auditing procedures as we considered necessar In the circumstances. In our opfnfon, subJect to the ~ a l l e a % l o n of e e ~ t a f n assets totaling $32,444.67 w h i c h 1s dependent upon the future . recefpt of grants in the approximate aggregate equivalent amount, as explained i n the note to the balance sheet, the acconpanyfng statements (pages 2 and 3) present fairly the assets and lfabllf- t f e s of United States National Student Assocfatfon, Foreign Stu- dents Leadership Project, at September 30, 1962 and its income an expenses for the year then ended In confornilty with generally ac- cepted accounting principles epplied on a basis consistent wfth that of the precediry year. . The supplemental statements (pages 4 to 6, inclusive), although not considered necessary for-a felr presentation of the Project's assets and l i a b i l i t i e s and its lncomt! and @xp@nses, are presented In t h i s report prfmarfly for supplemental'analysfs pur- poses. !I'hey h a w e been examined by us in conjunction w f t R our exambation of' the basic iinancfal statements and are, PR our opS ion, fairly stated In all material respects in relation e0 the basic flnancfal statements taken aa a whole. . . Philadelphia, Penna. . December 29, 1962 I . 1 \