-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, D2EKmm+1t6sMZR1gRRum0wALm9EOijkLSjIhJbCVMEJbWrx55uC3vYBIQNuLvmki lM3ggagFtCSRd0PgO9SSTg== 0000894189-03-001062.txt : 20030730 0000894189-03-001062.hdr.sgml : 20030730 20030730162355 ACCESSION NUMBER: 0000894189-03-001062 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030531 FILED AS OF DATE: 20030730 EFFECTIVENESS DATE: 20030730 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALLIED ASSET ADVISORS FUNDS CENTRAL INDEX KEY: 0001105877 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-09821 FILM NUMBER: 03811754 BUSINESS ADDRESS: STREET 1: C/O FIRSTAR MUTUAL FUND SERVICES LLC STREET 2: P O BOX 701 CITY: MILWAUKEE STATE: WI ZIP: 53201-0701 BUSINESS PHONE: 6207899191 MAIL ADDRESS: STREET 1: C/O FIRSTAR MUTUAL FUND SERVICES LLC STREET 2: P O BOX 701 CITY: MILWAUKEE STATE: WI ZIP: 53201-0701 FORMER COMPANY: FORMER CONFORMED NAME: AAA FUNDS DATE OF NAME CHANGE: 20000209 NSAR-B 1 answer.fil SEMIANUALL REPORT PAGE 1 000 B000000 05/31/2003 000 C000000 0001105877 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 ALLIED ASSET ADVISORS FUNDS 001 B000000 811-9821 001 C000000 4147654499 002 A000000 615 E. 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086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 SIGNATURE BASSAM OSMAN TITLE PRESIDENT EX-99.77B 3 consent.txt INDEPENDENT AUDITORS REPORT INDEPENDENT AUDITORS' REPORT To the Board of Trustees and Shareholders of the Dow Jones Islamic Index Fund: In planning and performing our audits of the financial statements of the Dow Jones Islamic Index Fund (the "Fund"), a series of Allied Asset Advisors Funds, for the year ended May 31, 2003 (on which we have issued our report dated July 18, 2003), we considered its internal control, including control activities for safeguarding securities, in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, and not to provide assurance on the Fund's internal control. The management of the Fund is responsible for establishing and maintaining internal control. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. Generally, controls that are relevant to an audit pertain to the entity's objective of preparing financial statements for external purposes that are fairly presented in conformity with accounting principles generally accepted in the United States of America. Those controls include the safeguarding of assets against unauthorized acquisition, use, or disposition. Because of inherent limitations in any internal control, misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of internal control to future periods are subject to the risk that the internal control may become inadequate because of changes in conditions or that the degree of compliance with policies or procedures may deteriorate. Our consideration of the Fund's internal control would not necessarily disclose all matters in internal control that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements due to error or fraud in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. However, we noted no matters involving the Fund's internal control and its operation, including controls for safeguarding securities, that we consider to be material weaknesses as defined above as of May 31, 2003. This report is intended solely for the information and use of the Fund's management, the Board of Trustees and Shareholders of the Dow Jones Islamic Index Fund, and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties. /s/DELOITTE & TOUCHE LLP July 18, 2003 -----END PRIVACY-ENHANCED MESSAGE-----