UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-17f-2
Certificate of Accounting of Securities and Similar
Investments in the Custody of
Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
1. Investment Company Act Rule Number: Date examination completed:
June 30, 2003
811-5984 October 31, 2003
2. State identification Number:
AL AK AZ AR CA CO
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CT DE DC FL GA HI
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ID IL IN IA KS KY
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LA ME MD MA MI MN
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MS MO MT NE NV NH
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NJ NM NY NC ND OH
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OK OR PA RI SC SD
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TN TX UT VT VA WA
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WV WI WY PUERTO RICO
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Other (specify):
3. Exact name of investment company as specified in registration statement:
The New Ireland Fund Inc
4. Address of principal executive office (number, street, city, state,
Zip code):
C/o PFPC Inc., 4400 Computer Drive, Westborough, Boston, MA 01581
ATTACHEMENTS:
Management Statement Regarding Compliance with
Certain Provisions of the Investment Company Act of 1940
We, as members of management of The New Ireland Fund, Inc. (the "Fund"),
are responsible for complying with the requirements of subsections (b)
and (c) of rule 17f-2, "Custody of Investments by Registered Management
Investment Companies," of the Investment Company Act of 1940. We are
also responsible for establishing and maintaining effective internal
controls over compliance with those requirements. We have performed an
evaluation of the Fund's compliance with the requirements of subsections
(b) and (c) of rule 17f-2 as of October 31, 2003, and from June 30,
2003 through October 31, 2003.
Based on this evaluation, we assert that the Fund was in compliance
with the requirements of subsections (b) and (c) of rule 17f-2 of the
Investment Company Act of 1940 as of October 31, 2003, and from
June 30, 2003, through October 31, 2003, with respect to securities
reflected in the investment account of the Fund.
The New Ireland Fund, Inc.
By: /s/ Denis Curran
Mr. Denis Curran, President
The New Ireland Fund, Inc.
Date 4/9/04
By: /s/ Lelia Long
Ms Lelia Long, Treasurer
The New Ireland Fund, Inc.
Date 4/9/04
Report of Independent Accountants
To the Board of Directors of
The New Ireland Fund, Inc.
We have examined management's assertion, included in the accompanying
Management Statement Regarding Compliance With Certain Provisions of
the Investment Company Act of 1940, that The New Ireland Fund, Inc.
(the "Fund") complied with the requirements of subsections (b) and
(c) of rule 17f-2 under the Investment Company Act of 1940 (the Act)
as of October 31, 2003. Management is responsible for the Fund's
compliance with those requirements. Our responsibility is to express an
opinion on management's assertion about the Fund's compliance based
on our examination.
Our examination was conducted in accordance with attestation standards
established by the American Institute of Certified Public Accountants
and, accordingly, included examining, on a test basis, evidence about
the Fund's compliance with those requirements and performing such other
procedures as we considered necessary in the circumstances. Included
among our procedures were the following tests performed as of
October 31, 2003, and with respect to agreement of security purchases
and sales, for the period from June 30, 2003 (the date of the previous
auditor's last examination), through October 31, 2003:
- Confirmation with Bank of Ireland Security Services of all securities
held by institutions in book entry form (the Crest system of Dublin,
Ireland;
- Reconciliation of all such securities to the books and records of the
Fund and the Custodian (Bank of Ireland);
- Agreement of one security purchase and two security sales or maturities
from the books and records of the Fund to Bank of Ireland's custody records
evidencing the transfer or receipt of such securities.
We believe that our examination provides a reasonable basis for our
opinion. Our examination does not provide a legal determination on the
Fund's compliance with specified requirements.
In our opinion, management's assertion that The New Ireland Fund, Inc.
complied with the requirements of subsections (b) and (c) of rule 17f-2
of the Investment Company Act of 1940 as of October 31, 2003, with
respect to securities reflected in the investment account of the Fund is
fairly stated, in all material respects.
This report is intended solely for the information and use of management
and the Board of Directors of The New Ireland Fund, Inc. and the
Securities and Exchange Commission and is not intended to be and should
not be used by anyone other than these specified parties.
Grant Thornton, LLC
January 6,