SAE Foundation Annual Report 2015 - 26

risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation
of the financial statements in order to design audit procedures that are appropriate in the circumstances, but
not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly,
we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used
and the reasonableness of significant accounting estimates made by management, as well as evaluating the
overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion.
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial
position of SAE Foundation (a division of SAE International) as of December 31, 2015 and 2014, and the changes
in its net assets and its cash flows for the years then ended in accordance with accounting principles generally
accepted in the United States of America.

Pittsburgh, Pennsylvania
April 7, 2016

BDO USA, LLP, a Delaware limited
liability partnership, is the U.S.
member of BDO International
Limited, a UK company limited by
guarantee, and forms part of the
international BDO network of
independent member firms.
BDO is the brand name for the
BDO network and for each of the
BDO Member Firms.

26 | 2015 Annual Report
SAE Foundation Annual Report 2015

Table of Contents for the Digital Edition of SAE Foundation Annual Report 2015
