Smithsonian Institution Financial Statements (With Independent Auditors' Report Thereon) September 30, 2010

摘要

This is the statement of financial position of the Smithsonian Institution (Smithsonian) as of September 30, 2010, and the related statements of financial activity and cash flows for the year then ended. These financial statements are the responsibility of the Smithsonian's management. That responsibility is to express an opinion on these financial statements based on the audit. The audit was conducted in accordance with auditing standards generally accepted in the United States of America. Those standards require that the audit is planned and performed to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but No abstract availableNo abstract availableNo abstract availablenot for the purpose of expressing an opinion on the effectiveness of the Smithsonian's internal control over financial reporting. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Smithsonian Institution as of September 30, 2010, and its changes in net assets and its cash flows for the year then ended in conformity with U.S. generally accepted accounting principles.