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United States
GAQ General Accounting Office
Washington, D.C. 20548
Accounting and Information
Management Division
B-280665
August 7, 1998
The Honorable Henry J. Hyde
Chairman, Committee on the Judiciary
House of Representatives
Subject: Federally Chartered Corporation: Review of the Financial Statement
Audit Report for the Lesion of Valor of the United States of America.
Incorporated for Fiscal Year 1997
Dear Mr. Chairman:
As requested, we reviewed the audit report covering the financial statements of
the Legion of Valor of the United States of America, Incorporated, a federally
chartered corporation, for the fiscal year ended April 30, 1997.
Federally chartered corporations are required under 36 U.S.C. 1102-1103 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 auditor's report and the corporation's financial statements to
the Congress not later than 6 months following the close of the
corporation's fiscal year.
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, reviewed the auditor's report,
and made any inquiries to corporation officials or the auditor as deemed
necessary. We did not review the auditor's working papers. During our review,
nothing came to our attention that would cause us to believe that the financial
reporting requirements of the law have not been met.
GAO/AIMD-98-2-59R Legion of Valor of the U.S.A., Inc.
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