Independent Auditors' Report on Internal Accounting Control
The Board of Directors and Shareholders
IAI Investment Funds VI, Inc.:
In planning and performing our audit of the financial statements of IAI
Capital Appreciation Fund, IAI Emerging Growth Fund, IAI Midcap Growth Fund
and IAI Balanced Fund (separate portfolios of IAI Investment Funds VI,
Inc.) for the year ended March 31, 2000, we considered their 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 to comply with the requirements of
Form N-SAR, not to provide assurance on internal control.
The management of the IAI Investment Funds VI, Inc. is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments 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 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 control, error 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 error or
fraud in amounts that would be material in relation to the financial
statements 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 for safeguarding securities, that we consider
to be a material weakness as defined above.
This report is intended solely for the information and use of management,
the Board of Directors, and the Securities and Exchange Commission and is
not intended to be and should not be used by anyone other than these
specified parties.
KPMG LLP
Minneapolis, Minnesota
May 19, 2000
