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GAO-02-984R 1 (2002-07-26)

handle is hein.gao/gaobaamaw0001 and id is 1 raw text is: 


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       Accountability * Integrity * Reliability
United States General Accounting Office
Washington, DC 20548







         July 26, 2002

         The Honorable F. James Sensenbrenner, Jr.
         Chairman, Committee on the Judiciary
         House of Representatives
         Subject: Federally Chartered Corporation: Review of the Financial Statement Audit
                   Report for the Marine Corps League for Fiscal Years 2001 and 2000

         Dear Mr. Chairman:

         As requested, we reviewed the audit report covering the financial statements of the
         Marine Corps League, a federally chartered corporation, for the fiscal years ended
         June 30, 2001 and 2000. The corporation's purpose is to promote interest and
         fellowship among all Marines and the survivors of deceased Marines.

         Federally chartered corporations are required under 36 U.S.C. § 10101 to

          present the corporation's assets and liabilities and reasonable detail on the
            corporation's income and expenses in annual financial statements,

          obtain an annual financial audit by an independent public accountant, and

          submit the auditors' report and the corporation's financial statements to the
            Congress.

         The objective of our review was to determine whether the audit report complied with
         the financial reporting requirements of the law. In carrying out our work, we
         reviewed the corporation's financial statements and the accompanying notes,
         performed certain analytical procedures related to information presented in the
         financial statements, and reviewed the auditors' report. However, we did not review
         the auditors' working papers, and we are not rendering an audit opinion. Our review
         disclosed no reportable instances of noncompliance with the financial reporting
         requirements of the law.


GAO-02-984R Marine Corps League

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