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![handle is hein.gao/gaobabmlj0001 and id is 1 raw text is: DOCUMENT RESOdE
04566 - [3634881]
[Audit Report for the American National Red Cross for the Tear
Ended June 30, 1976]. B-55712. December 23, 1977. 1 pp.
Report to Rep. Peter W. Rodino, Jr,, Chairman, House Committee
on the Judiciary; by Robert F. Keller# Deputy Comptroller
General.
Issue Itea: Accounting and Financial Reporting (200).
Contact. Financial and General Management Studies Div.
Budget Function: Miscellaneous: Financial Management and
Information Systems (1002),
Organization Concerned: American National Red Cross; Department
of the Army: Army Audit Agency.
Congressional Relevance: House Committee on the Judiciary.
Authocity: P.L. 88-50. 36 U.S.C. 1.
A review of the audit report prepared by the U.S. Army
Audit Agency for the American National Red Cross for the year
ended June 30# 1976, showed that the audit and financial
reporting requirements of the act of January 5, 1905 chartering
the corporation, had been met. rin4ings/Conclusions: The audit
report included a statement of the scope of the audit and the
audit aqency*s opinion that, except for the effects of certain
unrestricted donations being included as endowment funds and
certain campaign contributions for support of the following year
being reported as income in the fiscal year in which they were
recei7ed or receivable, the Combined Statement of Supports
Revenue, Expenses, and Transfers and the Combined Statement of
Functional Expenses by Object Classification piesented fairly
the results of operations of the Red Cross for the year ended
June 30, 1976, in conformity with generally accepted accounting
principles. These principles were applied on a bas 6s consistent
with the preceding year except for an accounting change with
which the audit agency concurs. The audit report was based on
the Army Audit Agencyms examination and the audit reports of
certified public accountants covering the accounts of the
national organization and 91% of the total support, revenue, and
expenses reported by chapters and blood centers. (SC)](ViewImageLocal?handle=hein.gao/gaobabmlj0001&div=1&collection=&method=preview&ext=.png&size=3)