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GAO-07-476R 1 (2007-03-09)

handle is hein.gao/gaocrptauza0001 and id is 1 raw text is: SGAO Accountability * Integrity * Reliability United States Government Accountability Office Washington, DC 20548 March 9, 2007 The Honorable F. James Sensenbrenner, Jr. House of Representatives Subject: Federally Chartered Corporation: Financial Statement Audit Report for the American Gold Star Mothers, Inc., for Fiscal Years 2005 and 2004 Dear Mr. Sensenbrenner: As requested, we read the audit report covering the financial statements of the American Gold Star Mothers, Inc., a federally chartered corporation, for the fiscal years ended June 30, 2005 and 2004. The corporation's purposes include perpetuating the ideals of Americanism for which members' loved ones fought and died. 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 and * obtain an annual financial audit by an independent public accountant. Our objective was to advise you of any matters in the report regarding compliance with the financial reporting requirements of the law. In carrying out our work, we read the corporation's financial statements and the accompanying notes, performed certain analytical procedures related to information presented in the financial statements, and read the auditor's report. We did not identify any instance of noncompliance with the above financial reporting requirements of the law. We did not perform an audit or review the auditor's audit documentation, and we are not rendering an audit opinion. However, we did hold limited discussions with the corporation's auditor regarding potential enhancements to the corporation's financial reporting. The audit report included the auditor's opinion that the financial statements of the corporation were presented fairly on a modified cash basis of accounting. We are returning the audit report you sent with your letter. GAO-07-476R American Gold Star Mothers, Inc.

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