0001752724-19-002119.txt : 20190118
0001752724-19-002119.hdr.sgml : 20190118
20190118151751
ACCESSION NUMBER: 0001752724-19-002119
CONFORMED SUBMISSION TYPE: N-CEN/A
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20181031
FILED AS OF DATE: 20190118
DATE AS OF CHANGE: 20190118
EFFECTIVENESS DATE: 20190118
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: MORGAN STANLEY INSTITUTIONAL LIQUIDITY FUNDS
CENTRAL INDEX KEY: 0001227155
IRS NUMBER: 000000000
FILING VALUES:
FORM TYPE: N-CEN/A
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-21339
FILM NUMBER: 19533152
BUSINESS ADDRESS:
STREET 1: 522 FIFTH AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10036
BUSINESS PHONE: 800-548-7786
MAIL ADDRESS:
STREET 1: 522 FIFTH AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10036
0001227155
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0001227155
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Tax Exempt Portfolio
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S000004153
Treasury Portfolio
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S000004154
Treasury Securities Portfolio
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DST Asset Manager Solutions, Inc.
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State Street Bank and Trust Company
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Rule 22d-1 (17 CFR 270.22d-1)
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
N
N
Morgan Stanley Investment Management Inc.
801-15757
000110353
6N8SC06AK49F0N7KIX52
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DST Asset Manager Solutions, Inc.
84-00896
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ICE Data Services, Inc.
5493000NQ9LYLDBCTL34
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N
State Street Bank and Trust Company
571474TGEMMWANRLN572
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N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
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DST Asset Manager Solutions, Inc.
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Morgan Stanley Services Company Inc.
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true
INTERNAL CONTROL RPT
2
NCEN_4543740668978033.txt
Report of Independent Registered Public Accounting
Firm
To the Shareholders and Board of Trustees of
Morgan Stanley Institutional Liquidity Funds:
In planning and performing our audits of the financial
statements of Money Market Portfolio, Prime Portfolio,
Government Portfolio, Government Securities Portfolio,
Treasury Portfolio, Treasury Securities Portfolio and
Tax-Exempt Portfolio, (the seven portfolios comprising
Morgan Stanley Institutional Liquidity Funds, (the
"Trust"), (collectively, the "Funds")) as of and for the
year ended October 31, 2018, in accordance with the
standards of the Public Company Accounting Oversight
Board (United States), we considered the Trust's internal
control over financial reporting, including controls over
safeguarding securities, as a basis for designing our
auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with
the requirements of Form N-CEN, but not for the
purpose of expressing an opinion on the effectiveness of
the Trust's internal control over financial reporting.
Accordingly, we express no such opinion.
The management of the Trust is responsible for
establishing and maintaining effective internal control
over financial reporting. In fulfilling this responsibility,
estimates and judgments by management are required to
assess the expected benefits and related costs of controls.
A company's internal control over financial reporting is
a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the
preparation of financial statements for external purposes
in accordance with U.S. generally accepted accounting
principles. A company's internal control over financial
reporting includes those policies and procedures that (1)
pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2) provide
reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in
accordance with U.S. generally accepted accounting
principles, and that receipts and expenditures of the
company are being made only in accordance with
authorizations of management and directors of the
company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use or disposition of a company's assets that
could have a material effect on the financial statements.
Because of its inherent limitations, internal control over
financial reporting may not prevent or detect
misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that
controls may become inadequate because of changes in
conditions, or that the degree of compliance with the
policies or procedures may deteriorate.
A deficiency in internal control over financial reporting
exists when the design or operation of a control does not
allow management or employees, in the normal course
of performing their assigned functions, to prevent or
detect misstatements on a timely basis. A material
weakness is a deficiency, or a combination of
deficiencies, in internal control over financial reporting,
such that there is a reasonable possibility that a material
misstatement of the company's annual or interim
financial statements will not be prevented or detected on
a timely basis.
Our consideration of the Trust's internal control over
financial reporting was for the limited purpose described
in the first paragraph and would not necessarily disclose
all deficiencies in internal control that might be material
weaknesses under standards established by the Public
Company Accounting Oversight Board (United States).
However, we noted no deficiencies in the Trust's
internal control over financial reporting and its
operation, including controls over safeguarding
securities, that we consider to be a material weakness as
defined above as of October 31, 2018.
This report is intended solely for the information and use
of management and the Board of Trustees of Morgan
Stanley Institutional Liquidity Funds 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/ ERNST & YOUNG LLP
Boston, Massachusetts
December 24, 2018
Information Classification: Limited Access
Information Classification: Limited Access