SCHEDULE 14A INFORMATION
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of the Securities Exchange Act of 1934
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FACTUAL DATA CORP.
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FACTUAL DATA CORP.
Supplement to Proxy Statement
for the
Annual Meeting of Shareholders
on
May 4, 2001
Audit Committee Report
The Audit Committee has reviewed and discussed the consolidated financial
statements for the fiscal year ended December 31, 2000, with management and the
independent auditors. The Audit Committee has discussed with the independent
auditors matters required to be discussed by Statement on Auditing Standards No.
61 (Communication With Audit Committees). In addition, the independent auditors
provided to the Audit Committee the written disclosures required by Independent
Standards Board Standard No. 1 (independence Discussions with Audit Committees),
and the Audit Committee and the independent auditors have discussed the
auditors' independence from the company and its management, including the
matters in those written disclosures. Additionally, the Audit Committee
considered the fees and costs billed and expected to be billed by the
independent auditors for our audit services. The Audit Committee has discussed
with management the procedures for selection of consultants and the related
competitive bidding practices and fully considered whether those services
provided by the independent auditors are compatible with maintaining auditor
independence.
The Audit Committee has discussed with the independent auditors, with and
without management present, their evaluations of our internal accounting
controls and the overall quality of our financial reporting.
In reliance on the reviews and discussions with management and the
independent auditors referred to above, the Audit Committee recommended to the
Board of Directors and the Board has approved, the inclusion of the audited
financial statements in our Annual Report on Form 10-KSB for the fiscal year
ended December 31, 2000, for filing with the Securities and Exchange Commission.
The Audit Committee also recommended to the Board of Directors, and the Board
has approved, subject to stockholder ratification, the selection of our
independent auditors for 2001.
AUDIT COMMITTEE
Daniel G. Helle
Abdul H. Rajput
Robert J. Terry
April 20, 2001
