Report of Independent Accountants
To the Board of Trustees of SEI Liquid Asset Trust:
In planning and performing our audit of the financial statements and
financial highlights of SEI Liquid Asset Trust (the "Trust") for the
year ended June 30, 2000, 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 financial highlights
and to comply with the requirements of Form N-SAR, not to provide
assurance on internal control.
The management of the Trust is responsible for establishing and
maintaining internal control. In fulfilling this responsibility,
estimates and judgements 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
and financial highlights for external purposes that are fairly
presented in conformity with generally
accepted accounting principles. Those controls include
the safeguarding of assets against unauthorized acquisition,
use or disposition.
Because of inherent limitations in internal controls, errors
or fraud may occur and not be detected. Also, projection
of any evaluation of internal control to future periods
is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness
of the design and
operation may deteriorate.
Our consideration of 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 caused by errors or fraud in
amounts that would be material in relation to the financial
statements and financial highlights 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 internal control and
its operation, including controls over safeguarding
securities, that we consider to be material weaknesses as defined
above as of June 30, 2000.
This report is intended solely for the information and use of
management, the Board of Trustees of the Trust and the Securities
and Exchange Commission.
PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
August 11, 2000
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