Federally Chartered Corporation: Review of the Financial Statement Audit
Report for the 82nd Airborne Division Association, Incorporated, for 1997
and 1998 (Correspondence, 06/30/2000, GAO/AIMD-00-249R).

Pursuant to a congressional request, GAO reviewed the audit report
covering the financial statements of the 82nd Airborne Division
Association, Incorporated, for the years ended December 31, 1997 and
1998, focusing on whether the audit report complied with the financial
reporting requirements of the law.

GAO noted that: (1) nothing came to GAO's attention that would cause it
to believe that the financial reporting requirements of the law have not
been met; and (2) the audit report included the auditor's opinion that
the financial statements of the corporation were presented fairly in
accordance with generally accepted accounting principles.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  AIMD-00-249R
     TITLE:  Federally Chartered Corporation: Review of the Financial
	     Statement Audit Report for the 82nd Airborne Division
	     Association, Incorporated, for 1997 and 1998
      DATE:  06/30/2000
   SUBJECT:  Financial statement audits
	     Federal corporations
	     Reporting requirements
	     Audit reports
	     Accounting standards
	     Financial records
	     Military personnel
	     Retired military personnel

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GAO/AIMD-00-249R

MACROBUTTON B-285457 DOCPROPERTY B-number

   *
   * June 30, 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 82nd Airborne Division Association, Incorporated, for 1997
and 1998

Dear Mr. Chairman:

   * As requested, we reviewed the audit report covering the financial
     statements of the 82nd Airborne Division Association, Incorporated, a
     federally chartered corporation, for the years ended December 31, 1997
     and 1998. The corporation was established to promote fellowship among
     current and former troopers throughout the United States.
   * 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.

The audit report included the auditor's opinion that the financial
statements of the corporation were presented fairly, in all material
respects, in accordance with generally accepted accounting principles. We
are returning the audit report you sent with your letter.

Sincerely yours,

David L. Clark

Director, Audit Oversight and Liaison

Enclosure

(911988)

  
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