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GAO-07-663R 1 (2007-04-05)

handle is hein.gao/gaocrptaves0001 and id is 1 raw text is: Sai Accountability * Integrity * Reliability United States Government Accountability Office Washington, DC 20548 April 5, 2007 The Honorable F. James Sensenbrenner, Jr. House of Representatives Subject: Federally Chartered Corporation: Financial Statement Audit Reportfor the American GI Forum of the United States for Fiscal Year 2005 Dear Mr. Sensenbrenner: As requested, we read the financial statements of the American GI Forum of the United States, a federally chartered corporation, for the fiscal year ended December 31, 2005. The corporation's purposes include upholding and defending the Constitution and the United States flag, and fostering and perpetuating the principles of American democracy. 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. 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, and performed certain analytical procedures related to information presented in the financial statements. We determined that the American GI Forum of the United States did not obtain an audit of its financial statements for fiscal year 2005 by an independent public accountant, and therefore did not comply with the above statutory requirement for such an audit. Instead, corporation officials informed us that they had the statements reviewed. Further, they informed us they plan to obtain a financial audit of the corporation's financial statements in the future. We did not perform an audit, and we are not rendering an audit opinion. GAO-07-663R American GI Forum of the United States

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