INSURED MUNICIPALS INCOME TRUST 40TH INSURED MULTI SERIES, 485BPOS, EX-99.1.1, 2000-11-22

INSURED MUNICIPALS INCOME TRUST 40TH INSURED MULTI SERIES
485BPOS, EX-99.1.1, 2000-11-22

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               Consent of Independent Certified Public Accountants

   We have issued our report dated September 15, 2000 accompanying the financial
statements of Insured Municipals Income Trust, 40th Insured Multi-Series as of
July 31, 2000, and for the period then ended, contained in this Post-Effective
Amendment No. 14 to Form S-6.

   We consent to the use of the aforementioned report in the Post-Effective
Amendment and to the use of our name as it appears under the caption "Auditors".


                                        Grant Thornton LLP


Chicago, Illinois
November 22, 2000