Exhibit (j)




               CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS

We  consent  to the  references  to  our  firm  under  the  captions  "Financial
Highlights" for Scudder Floating Rate Fund in the Bank Loan Funds Prospectus and
"Independent  Auditors" and "Financial  Statement" in the Scudder  Floating Rate
Statement of Additional  Information  and to the  incorporation  by reference in
Post-Effective  Amendment Number 6 to the Registration  Statement (Form N-2, No.
333-74911) of our report dated October 12, 2001 on the financial  statements and
financial highlights of Scudder Floating Rate Fund included in the Annual Report
dated August 31, 2001.



/s/ERNST & YOUNG LLP
Boston, Massachusetts
December 24, 2001