On March 12, 19X5, Brown & Brown, CPAs, completed the audit of the financial statements of Modern Museum, Inc., for the year ended December 31, 19X4. Modern Museum presents comparative financial statements on a modified cash basis. Assets, liabilities, fund balances, support, revenues, and expenses are rec¬ ognized when cash is received or disbursed, except that Modern includes a provision for depreciation of buildings and equipment. Brown & Brown believes that Modern’s three financial statements, prepared in accordance with a comprehensive basis of accounting other than generally accepted accounting principles, are adequate for Modern’s needs and wishes to issue an auditor’s special report on the financial statements. Brown & Brown has gathered sufficient competent evidential matter to be satisfied that the financial statements are fairly presented according to the modified cash basis. Brown & Brown audited Modern’s 19X3 financial statements and issued the auditor’s special report expressing an unqualified opinion.

Required:

Draft the auditors’ report to accompany Modern’s comparative financial statements.