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AIMD-00-206R 1 (2000-06-02)

handle is hein.gao/gaobacnsx0001 and id is 1 raw text is: 


   I
 GAO

        Accountability * Integrity * Reliability
United States General Accounting Office                               Accounting and Information
Washington, DC 20548                                                        Management Division





          B-285097

          June 2, 2000

          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 Marine Corps League for Fiscal Years 1997 and 1998

          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, 1997 and
          1998. 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 auditor's 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, reviewed the
          auditor's report, and made inquiries to corporation officials or the auditor as we deemed
          necessary. We did not review the auditor's working papers. Our review disclosed no
          reportable instances of noncompliance.


GAO/AIMD-00-206R Marine Corps League

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