Federally Chartered Corporation: Review of the Financial Statement Audit
Report for Little League Baseball, Incorporated, for Fiscal Years 1998
and 1999 (Correspondence, 08/25/2000, GAO/AIMD-00-301R).

Pursuant to a congressional request, GAO reviewed the audit report
covering the financial statements of the Little League Baseball,
Incorporated, for the years ended September 30, 1998 and 1999, 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-00-301R
     TITLE:  Federally Chartered Corporation: Review of the Financial
	     Statement Audit Report for Little League Baseball,
	     Incorporated, for Fiscal Years 1998 and 1999
      DATE:  08/25/2000
   SUBJECT:  Corporate audits
	     Financial statement audits
	     Reporting requirements
	     Audit reports
	     Auditing standards
	     Financial records
	     Federal corporations
	     Accounting procedures

******************************************************************
** This file contains an ASCII representation of the text of a  **
** GAO Testimony.                                               **
**                                                              **
** No attempt has been made to display graphic images, although **
** figure captions are reproduced.  Tables are included, but    **
** may not resemble those in the printed version.               **
**                                                              **
** Please see the PDF (Portable Document Format) file, when     **
** available, for a complete electronic file of the printed     **
** document's contents.                                         **
**                                                              **
******************************************************************
GAO/AIMD-00-301R

Little League Baseball, Incorporated

United States General Accounting Office Washington, DC 20548

Accounting and Information Management Division

B-285948 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 Little League Baseball, Incorporated, for Fiscal Years 1998
and 1999

Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of Little League Baseball, Incorporated, a federally
chartered corporation, for the fiscal years ended September 30, 1998 and
1999. The corporation promotes the welfare and development of youngsters who
participate in Little League Baseball.

Federally chartered corporations are required under 36 U. S. C. 10101 to

ï¿½ present the corporation's assets and liabilities and reasonable detail on
the corporation's income and expenses in annual financial statements,

ï¿½ obtain an annual financial audit by an independent public accountant, and

ï¿½ 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-285948 GAO/AIMD-00-301R Little League Baseball, Incorporated
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 (912001)
*** End of document. ***