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AFMD-81-45 1 (1981-03-13)

handle is hein.gao/gaobabbqx0001 and id is 1 raw text is: COMPTROLLER GENERAL OF THE UNITED STATES _ WASINGTON O.C, 2050 March 13, 1981 8-200951 114680 To the Board of Directors National Consumer Coopeative.B We have examined the balance sheetlof the National Consumer Cooperative BankJas of September 30, 1980, and the related statements of income, changes in equity, and changes in financial position for the year then ended. This was the Bank's first full year of operation. Our examination was made pursuant to the National Consumer Cooperative Bank Act (12 U.S.C. 3001-3050) and the Govern- ment Corporation Control Act (31 U.S.C. 841-869) and in accordance with generally accepted government auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the accompanying financial statements present fairly the financial position of the National Con- sumer Cooperative Bank as of September 30, 1980, and the results of its operations and the changes in its financial position for the year then ended, in conformity with gen- erally accepted accounting principles. D. L. Scantlebury For Acting Comptroller Ge. ral of the United States AFMD-81-45 6/6 «7

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