Dreyfus/Laurel Funds Inc – ‘40-17F2’ on 9/12/14 re: Dreyfus/Laurel Funds Inc

On:  Friday, 9/12/14, at 5:01pm ET   ·   Effective:  9/12/14   ·   Accession #:  1591556-14-24   ·   File #:  811-05202

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Certificate of Accounting of Securities in the Custody of a Management Investment Company   —   Form N-17F-2
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 40-17F2     Certificate of Accounting of Securities in the         3±    17K 
                          Custody of a Management Investment                     
                          Company                                                


Report of Independent Registered                                    
Public Accounting Firm                                                          

The Board of Directors of                                                       
The Dreyfus/Laurel Funds, 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 Dreyfus/Laurel Funds, Inc., which is                                   
comprised of Dreyfus Core Equity Fund, Dreyfus                                  
Bond Market Index Fund, Dreyfus AMT-Free                                        
Municipal Reserves, Dreyfus Disciplined Stock                                   
Fund, Dreyfus U.S. Treasury Reserves, Dreyfus                                   
Money Market Reserves, Dreyfus BASIC S&P 500                                    
Stock Index Fund, Dreyfus Opportunistic Fixed                                   
Income Fund, Dreyfus Opportunistic Emerging                                     
Markets Debt Fund, Dreyfus Floating Rate Income                                 
Fund and Dreyfus Tax Managed Growth Fund                                        
(collectively, the "Funds"), complied with the                                  
requirements of subsections (b) and (c) of Rule 17f-                            
2 under the Investment Company Act of 1940 as of                                
May 31, 2014, and from March 31, 2014 through                                   
May 31, 2014, with respect to securities reflected in                           
the investment accounts of the Funds. Management                                
is responsible for the Funds' compliance with those                             
requirements.  Our responsibility is to express an                              
opinion on management's assertion about the                                     
Funds' compliance based on our examination.                                     
Our examination was conducted in accordance with                                
the standards of the Public Company Accounting                                  
Oversight Board (United States) and, accordingly,                               
included examining, on a test basis, evidence about                             
the Funds' 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                             
May 31, 2014, and with respect to agreement of                                  
security purchases and sales, for the period from                               
March 31, 2014 (the date of the Funds' last                                     
examination) through May 31, 2014:                                              
1.      Obtained The Bank of New York Mellon's                                  
(the "Custodian") security position                                             
reconciliations for all securities held by sub                                  
custodians and in book entry form and                                           
verified that reconciling items were cleared                                    
in a timely manner;                                                             
2.      Confirmation with the Custodian of all                                  
securities held, hypothecated, pledged or                                       
placed in escrow or out for transfer with                                       
brokers or pledgees;                                                            
3.      Reconciliation between the Funds'                                       
accounting records and the Custodian's                                          
records as of May 31, 2014;                                                     
4.      Agreement of pending purchase activity for                              
the Funds as of May 31, 2014 to                                                 
documentation of corresponding subsequent                                       
bank statements;                                                                
5.      Agreement of pending sale activity for the                              
Funds as of May 31, 2014 to documentation                                       
of corresponding subsequent bank                                                
statements;                                                                     
6.      Agreement of a minimum of five purchases                                
and five sales, including at least one                                          
transaction per Fund, from the period March                                     
31, 2014 (the date of the Funds' last                                           
examination) through May 31, 2014, from                                         
the books and records of the Funds to the                                       
bank statements noting that they had been                                       
accurately recorded and subsequently                                            
settled;                                                                        
7.      Review of the BNY Mellon Asset Servicing                                
Report on Controls Placed in Operation and                                      
Tests of Operating Effectiveness ("SOC 1                                        
Report") for the period April 1, 2013 to                                        
March 31, 2014 and noted no relevant                                            
findings were reported in the areas of Asset                                    
Custody and Control.                                                            
8.      We inquired of the Custodian who                                        
confirmed that all control policies and                                         
procedures detailed in Section III Control                                      
Objectives, Controls and Tests of Operating                                     
Effectiveness of the SOC 1 Report, have                                         
remained in operation and functioned                                            
adequately from April 1, 2014 through May                                       
31, 2014. In addition, we have obtained                                         
written representations from the Custodian                                      
confirming the above.                                                           
We believe that our examination provides a                                      
reasonable basis for our opinion. Our examination                               
does not provide a legal determination on the                                   
Funds' compliance with specified requirements.                                  
In our opinion, management's assertion that the                                 
Funds complied with the requirements of                                         
subsections (b) and (c) of Rule 17f-2 of the                                    
Investment Company Act of 1940 as of May 31,                                    
2014, and from March 31, 2014 through May 31,                                   
2014, with respect to securities reflected in the                               
investment accounts of the Funds 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 Dreyfus/Laurel Funds, 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.                                             

/s/ KPMG LLP                                                                    
New York, New York                                                              
September 12, 2014                                                              

September 12, 2014                                                              

Management Statement Regarding Compliance                                       
With                                                                            
Certain Provisions of the Investment Company                                    
Act of 1940                                                                     

Management of Dreyfus/Laurel Funds, Inc.                                        
comprised of Dreyfus Core Equity Fund, Dreyfus                                  
Bond Market Index Fund, Dreyfus AMT-Free                                        
Municipal Reserves, Dreyfus Disciplined Stock                                   
Fund, Dreyfus U.S. Treasury Reserves, Dreyfus                                   
Money Market Reserves, Dreyfus BASIC S&P 500                                    
Stock Index Fund, Dreyfus Opportunistic Fixed                                   
Income Fund, Dreyfus Opportunistic Emerging                                     
Markets Debt Fund, Dreyfus Floating Rate Income                                 
Fund and Dreyfus Tax Managed Growth Fund                                        
(collectively, the "Funds") is 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.                                             
Management is also responsible for establishing and                             
maintaining effective internal controls over                                    
compliance with those requirements. Management                                  
has performed an evaluation of the Funds'                                       
compliance with the requirements of subsections (b)                             
and (c) of Rule 17f-2 as of May 31, 2014 and from                               
March 31, 2014 through May 31, 2014.                                            
Based on the evaluation, Management asserts that                                
the Funds were in compliance with the requirements                              
of subsections (b) and (c) of Rule 17f-2 of the                                 
Investment Company Act of 1940 as of May 31,                                    
2014 and from March 31, 2014 through May 31,                                    
2014 with respect to securities reflected in the                                
investment accounts of the Funds.                                               

Dreyfus/Laurel Funds, Inc.                                                      

James Windels                                                                   
Treasurer                                                                       

2                                                                               

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘40-17F2’ Filing		Date		Other Filings
Filed on / Effective on:		9/12/14
		5/31/14		N-Q
		4/1/14
		3/31/14		497,  N-MFP
		4/1/13
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