Independent Auditors' Report on Internal Accounting Control
The Board of Trustees and Unitholders
World Trust:
In planning and performing our audits of the financial statements
of World Income Portfolio, World Growth Portfolio,
Emerging Markets Portfolio, and World Technologies Portfolio
(portfolios within World Trust) for the year ended October
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 the
internal control.
The management of World Trust 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,
errors or irregularities 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 the internal control would not necessarily
disclose all matters in the 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 the 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 Trustees of World Trust, 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
December 1, 2000
