-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MdqN9dH/0gpVhwhUpD8S5Zjnc3ENb89lgbKgqKx0orftQ6pEYhW+w40dRNjyZZgc PVXARZGNqi5fxJJ5+TFV/Q== 0000894189-03-001947.txt : 20031229 0000894189-03-001947.hdr.sgml : 20031225 20031229170733 ACCESSION NUMBER: 0000894189-03-001947 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20031031 FILED AS OF DATE: 20031229 EFFECTIVENESS DATE: 20031229 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVISORS SERIES TRUST CENTRAL INDEX KEY: 0001027596 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-07959 FILM NUMBER: 031076048 BUSINESS ADDRESS: STREET 1: U.S BANCORP FUND SERVICES, LLC STREET 2: 615 E MICHIGAN STREET CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 414-765-5344 MAIL ADDRESS: STREET 1: 615 E MICHIGAN STREET STREET 2: MK-WI-LC2 CITY: MILWAUKEE STATE: WI ZIP: 53202 NSAR-B 1 answer.fil ANNUAL REPORT FOR MUTUAL FUNDS PAGE 1 000 B000000 10/31/2003 000 C000000 0001027596 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 ADVISORS SERIES TRUST 001 B000000 811-07959 001 C000000 4147655335 002 A000000 615 E MICHIGAN ST 002 B000000 MILWAUKEE 002 C000000 WI 002 D010000 53202 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 Y 007 B000000 1 007 C010100 1 007 C010200 2 007 C010300 3 007 C010400 4 007 C010500 5 007 C010600 6 007 C010700 7 007 C010800 8 007 C010900 9 007 C020900 EDGAR LOMAX VALUE FUND 007 C030900 N 007 C011000 10 007 C011100 11 007 C011200 12 007 C011300 13 007 C011400 14 007 C011500 15 007 C011600 16 007 C011700 17 007 C011800 18 007 C011900 19 007 C012000 20 007 C012100 21 007 C012200 22 007 C012300 23 007 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063 A000900 0 063 B000900 0.0 066 A000900 Y 066 B000900 N 066 C000900 N PAGE 7 066 D000900 N 066 E000900 Y 066 F000900 N 066 G000900 N 067 000900 N 068 A000900 N 068 B000900 N 069 000900 N 070 A010900 Y 070 A020900 N 070 B010900 N 070 B020900 N 070 C010900 N 070 C020900 N 070 D010900 N 070 D020900 N 070 E010900 N 070 E020900 N 070 F010900 N 070 F020900 N 070 G010900 N 070 G020900 N 070 H010900 N 070 H020900 N 070 I010900 N 070 I020900 N 070 J010900 Y 070 J020900 N 070 K010900 Y 070 K020900 Y 070 L010900 Y 070 L020900 Y 070 M010900 N 070 M020900 N 070 N010900 Y 070 N020900 N 070 O010900 Y 070 O020900 N 070 P010900 N 070 P020900 N 070 Q010900 N 070 Q020900 N 070 R010900 N 070 R020900 N 071 A000900 8872 071 B000900 6208 071 C000900 8295 071 D000900 75 072 A000900 12 072 B000900 0 072 C000900 271 PAGE 8 072 D000900 0 072 E000900 0 072 F000900 87 072 G000900 30 072 H000900 0 072 I000900 21 072 J000900 6 072 K000900 0 072 L000900 2 072 M000900 8 072 N000900 21 072 O000900 0 072 P000900 0 072 Q000900 19 072 R000900 18 072 S000900 9 072 T000900 0 072 U000900 0 072 V000900 0 072 W000900 5 072 X000900 226 072 Y000900 119 072 Z000900 164 072AA000900 199 072BB000900 0 072CC010900 1260 072CC020900 0 072DD010900 122 072DD020900 0 072EE000900 0 073 A010900 0.1607 073 A020900 0.0000 073 B000900 0.0000 073 C000900 0.0000 074 A000900 0 074 B000900 0 074 C000900 244 074 D000900 0 074 E000900 0 074 F000900 10743 074 G000900 0 074 H000900 0 074 I000900 0 074 J000900 4688 074 K000900 1 074 L000900 30 074 M000900 11 074 N000900 15717 074 O000900 4310 074 P000900 0 074 Q000900 0 PAGE 9 074 R010900 0 074 R020900 0 074 R030900 0 074 R040900 21 074 S000900 0 074 T000900 11386 074 U010900 1089 074 U020900 0 074 V010900 10.46 074 V020900 0.00 074 W000900 0.0000 074 X000900 110 074 Y000900 0 075 A000900 0 075 B000900 8724 076 000900 0.00 SIGNATURE CAROLINE PROBST TITLE FUND ADMINISTRATOR EX-99.77B 3 internalctrl.txt ACCOUNTANT'S REPORT ON INTERNAL CONTROL ACCOUNTANTS ON INTERNAL CONTROL Board of Trustees Advisor Series Trust Milwaukee, Wisconsin In planning and performing our audit of the financial statements of the Edgar Lomax Value Fund (the "Fund"), a series of shares of Advisor Series Trust, for the year ended October 31, 2003, we considered its 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 Fund 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 accounting principles generally accepted in the United States of America. Those controls include the safeguarding of assets against unauthorized acquisition, use, or disposition. Because of inherent limitations in any internal control, errors or fraud may occur and not be detected. Also, projection of any evaluation of the 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 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 material weaknesses, as defined above, as of October 31, 2003. This report is intended solely for the information and use of management and the Securities and Exchange Commission, and is not intended to be and should not be used by anyone other than these specified parties. /s/ Tait, Weller & Baker Philadelphia, Pennsylvania November 14, 2003 EX-99.77K 4 item77k.txt CHANGES IN REGISTRANT'S CERTIFYING ACCOUNT ATTACHMENT ONE Attachment for Item 77K of Form N-SAR Changes in Registrant's Certifying Account On June 13, 2003, PricewaterhouseCoopers LLP ("PwC") resigned as the independent accountants for the Edgar Lomax Value Fund (the "Fund"), a series of Advisors Series Trust (the "Company"). On June 13, 2003, the Company retained Tait Weller & Baker ("Tait") as the independent accountants for the Funds. The retention of Tait as the independent accountants of the Fund has been approved by the Company's Audit Committee and Board of Trustees. The reports of PwC on the financial statements of the Fund for the past two fiscal years contained no adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles In connection with its audits for the two most recent fiscal years and through June 13, 2003, there have been no disagreements with PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of PwC would have caused them to make reference thereto in their report on the financial statements for such years. A letter from PwC follows as Attachment Two. June 26, 2003 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. 20549 Commissioners: We have read the statement made by the Edgar Lomax Value Fund of Advisors Series Trust (copy attached), which we understand will be filed with the Commission pursuant to Item 77K of Form N-SAR. We agree with the statements concerning our firm contained therein. Very truly yours, /s/ PricewaterhouseCoopers LLP - ------------------------------ PricewaterhouseCoopers LLP cc: Mr. Douglas Hess Treasurer, Advisors Series Trust. -----END PRIVACY-ENHANCED MESSAGE-----