Federally Chartered Corporation: Review of the Financial Statement Audit
Report for the Blue Star Mothers of America, Incorporated, for Fiscal
Year 1999 (Correspondence, 08/25/2000, GAO/AIMD-00-298R).
Pursuant to a congressional request, GAO reviewed the audit report
covering the financial statements of the Blue Star Mothers of America,
Incorporated, focusing on whether the audit report complied with the
financial reporting requirements of the law.
GAO noted that: (1) GAO's review disclosed no reportable instances of
noncompliance; 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-00-298R
TITLE: Federally Chartered Corporation: Review of the Financial
Statement Audit Report for the Blue Star Mothers of
America, Incorporated, for Fiscal Year 1999
DATE: 08/25/2000
SUBJECT: Financial statement audits
Audit reports
Financial records
Reporting requirements
Accounting standards
Federal corporations
Corporate audits
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GAO/AIMD-00-298R
Blue Star Mothers of America, Inc.
United States General Accounting Office Washington, DC 20548
Accounting and Information Management Division
B- 285945 August 25, 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 Blue Star Mothers of America, Incorporated, for Fiscal
Year 1999
Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of the Blue Star Mothers of America, Incorporated, a
federally chartered corporation, for the fiscal year ended August 31, 1999.
The corporation's purpose is to perpetuate the memory of the men and women
who have served our country as members of the Armed Forces.
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.
B-285945 GAO/AIMD-00-298R Blue Star Mothers of America, Inc. Page
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. We are returning the audit report you sent with your
letter.
Sincerely yours, David L. Clark Director, Audit Oversight and Liaison
Enclosure (911998)
*** End of document. ***