Federally Chartered Corporation: Review of the Financial	 
Statement Audit Report for the Women's Army Corps Veterans'	 
Association for Fiscal Year 2000 (21-AUG-01, GAO-01-1094R).	 
								 
GAO reviewed the audit report covering the financial statements  
of the Women's Army Corps Veterans' Association, for fiscal year 
2000. GAO found no reportable evidence of noncompliance. The	 
audit report included the auditors' opinions that the financial  
statements of the corporation were presented fairly in accordance
with generally accepted accounting principles.			 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-01-1094R					        
    ACCNO:   A01647						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
             Statement Audit Report for the Women's Army Corps Veterans'      
             Association for Fiscal Year 2000                                 
     DATE:   08/21/2001 
  SUBJECT:   Financial statement audits 			 
	     Accounting standards				 
	     Audit reports					 
	     Federal corporations				 
	     Reporting requirements				 
	     Veterans						 
	     Women						 

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GAO-01-1094R
     
GAO- 01- 1094R Women?s Army Corps Veterans? Association

United States General Accounting Office Washington, DC 20548

August 21, 2001 The Honorable F. James Sensenbrenner, Jr. Chairman,
Committee on the Judiciary House of Representatives

Subject: Federally Chartered Corporation: Review of the Financial Statement
Audit Report for the Women?s Army Corps Veterans? Association for Fiscal
Year 2000

Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of the Women?s Army Corps Veterans? Association, a
federally chartered corporation, for the fiscal year ended June 30, 2000.
The corporation promotes the general welfare of all veterans, especially
women veterans, who have served or are serving in the United States Army,
the Army Reserve, and the Army National Guard. The corporation recognizes
outstanding women in college ROTC units and provides services and support to
patients in medical facilities of the Department of Veterans Affairs
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 auditors? 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

GAO- 01- 1094R Women?s Army Corps Veterans? Association Page 2 financial
statements, reviewed the auditors? report, and made inquiries to corporation

officials or the auditors as we deemed necessary. We did not review the
auditors? working papers. Our review disclosed no reportable instances of
noncompliance.

The audit report included the auditors? 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, Jeffrey C. Steinhoff Managing Director Financial Management
and Assurance

w/ o Enclosure

GAO- 01- 1094R Women?s Army Corps Veterans? Association Page 3 (194068)
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