EXHIBIT (J)
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
To the Shareholders and Board of Trustees of
Ivy International Fund (the "Fund"):
In our opinion, the accompanying statement of assets and
liabilities, including the portfolio of investments, and the related statements
of operations and of changes in net assets and the financial highlights present
fairly, in all material respects, the financial position of the Fund at December
31, 1999, the results of its operations for the year then ended, the changes in
its net assets for each of the two years in the period then ended, and the
financial highlights for each of the periods presented, in conformity with
accounting principles generally accepted in the United States. These financial
statements and financial highlights (hereafter referred to as "financial
statements") are the responsibility of the Fund's management; our responsibility
is to express an opinion on these financial statements based on our audits. We
conducted our audits of these financial statements in accordance with auditing
standards generally accepted in the United States, which require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management, and evaluating the overall financial statement presentation.
We believe that our audits, which included confirmation of securities owned at
December 31, 1999 by correspondence with the custodian, provide a reasonable
basis for the opinion expressed above.
PricewaterhouseCoopers LLP
Fort Lauderdale, Florida
February 4, 2000
<PAGE>
EXHIBIT (J) (CONT'D)
CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
We hereby consent to the incorporation by reference and inclusion in
this Post-Effective Amendment No. 117 to the Registration Statement on Form N-1A
(File No. 2-17613, hereafter the "Registration Statement") of our report dated
February 4, 2000, relating to the financial statements and financial highlights
of Ivy International Fund which appear in the December 31, 1999 Annual Report to
Shareholders, which is also incorporated by reference into the Registration
Statement. We also consent to the reference to us under the heading "Auditors"
in such Registration Statement.
PricewaterhouseCoopers LLP
Fort Lauderdale, Florida
June 29, 2000
