OMB APPROVAL
OMB Number:      3235-0360
Expires:     July 31, 1991
Estimated  average  burden
hours per response....0.05

SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549

FORM N-17f-2

Certificate of Accounting of Securities and Similar
Investments in the Custody of
Management Investment Companies

Pursuant to Rule 17f-2 [17 CFR 270.17f-2]

1.    Investment Company Act File Number:    Date examination completed:

                            811-5696          January 16, 1998
2. State identification Number:

AL       AK       AZ       AR       CA      CO
CT       DE       DC       FL       GA      HI
ID       IL       IN       IA       KS      KY
LA       ME       MD       MA       MI      MN
MS       MO       MT       NE       NV      NH
NJ       NM       NY       NC       ND      OH
OK       OR       PA       RI       SC      SD
TN       TX       UT       VT       VA      WA
WV       WI       WY       PUERTO RICO
Other  (specify):

3. Exact name of investment company as specified in registration statement:

     IDS Global Series, Inc.

4. Name under which business is conducted, if different from above:
 
5. Address of principal place of business (number,street,city,state, zip code):

     IDS Tower 10, Minneapolis, MN 55440

INSTRUCTIONS

This Form must be  completed  by  investment  companies  that  have  custody  of
securities or similar investments.

Investment Company

1. All items must be completed by the investment company.

2. Give this Form to the independent  public  accountant who, in compliance with
Rule 17f-2  under the Act and  applicable  state law,  examines  securities  and
similar investments in the custody of the investment company.

Accountant

3. Submit this Form to the  Securities and Exchange  Commission and  appropriate
state  securities  administrators  when  filing the  certificate  of  accounting
required by Rule 17f-2 under the Act and applicable state law. File the original
and one copy with the Securities and Exchange  Commission's  principal office in
Washington, D. C., one copy with the regional office for the region in which the
investment  company's principal business operations are conducted,  and one copy
with the appropriate state administrator(s), if applicable.

                   THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT

Note:  The  estimated  average  burden hours are made solely for purposes of the
Paperwork  Reduction  Act,  and are not derived from a  comprehensive  or even a
representative survey or study of the costs of SEC rules and forms.

Direct any comments  concerning  the accuracy of the  estimated  average  burden
hours for  compliance  with SEC rules and forms to  Kenneth  A.  Fogash.  Duputy
Executive Director,  U.S. Securities and Exchange Commission,  450 Fifth Street,
N.W.,  Washington,  D.C.  20549 and Gary Waxman,  Clearance  Officer,  Office of
Management and Budget, Room 3208 New Executive Office Building, Washington, D.C.
20503.


                                     Independent Auditors' Report

To the Board of Directors of
IDS Global Series, Inc.
and
Securities and Exchange Commission:

We have examined management's assertion,  included in its representation letter,
that IDS Global  Balanced Fund of IDS Global  Series,  Inc. (the Fund)  complied
with the provisions of subsection (b) and (c) of Rule 17f-2 under the Investment
Company Act of 1940 as of October 30, 1997 and during the period  September  30,
1997 (the date of our last examination) through October 31, 1997.  Management is
responsible for the Fund's compliance with those provisions.  Our responsibility
is to express an opinion on management's  assertion about the Fund's  compliance
based on our examination.

Our  examination  was  made in  accordance  with  standards  established  by the
American  Institute of Certified Public Accountants and,  accordingly,  included
examining,  on a test basis,  evidence  about the Fund's  compliance  with those
requirements and performing such other procedures as we considered  necessary in
the  circumstances.  Included  among our  procedures  were the  following  tests
performed as of October 31, 1997 and the period from  September 30, 1997 through
October 31, 1997, with respect to securities transactions:

     Count and inspection of all securities  located in the vault,  if any,
     of American Express Trust Company, the Custodian;

     Confirmation of all  securities,  if any, held by institutions in book
     entry form (Norwest Bank  Minnesota,  N.A.,  Morgan  Stanley Trust Company,
     State Street Bank and Trust Company, and The Depository Trust Company);

     Confirmation  or  examination  of  underlying   documentation  of  all
     securities  purchased but not received,  hypothecated,  pledged,  placed in
     escrow, or out for transfer with brokers, pledges and/or transfer agents;

     Reconciliation  of all such securities to the books and records of the
     Fund and the Custodian; and

     Test of selected security transactions since the date of our last report.

We believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination on the Fund's compliance with
the specified requirements.

In our  opinion,  management's  assertion  that IDS Global  Series,  Inc. was in
compliance with the above  mentioned  provisions of Rule 17f-2 of the Investment
Company Act of 1940 as of October 31, 1997 and for the period from September 30,
1997 through October 31, 1997 is fairly stated in all material respects.

This report is intended  solely for the information and use of management of IDS
Global Series, Inc. and the Securities and Exchange Commission and should not be
used for any other purpose.




KPMG Peat Marwick LLP

Minneapolis, MN
January 16, 1998