Federally Chartered Corporation: Review of the Financial Statement Audit
Reports for the National Society of the Daughters of the American
Revolution for Fiscal Years 1999 and 1998 (Correspondence, 10/27/2000,
GAO/GAO-01-167R).

GAO reviewed the financial statement audit reports for the Daughters of
the American Revolution for fiscal years 1999 and 1998. GAO found no
reportable instances of noncompliance with the requirements of the law,
and 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:  GAO-01-167R
     TITLE:  Federally Chartered Corporation: Review of the Financial
	     Statement Audit Reports for the National Society of
	     the Daughters of the American Revolution for Fiscal Years
	     1999 and 1998
      DATE:  10/27/2000
   SUBJECT:  Financial statement audits
	     Internal controls
	     Federal corporations
	     Reporting requirements
	     Audit reports
	     Corporate audits
	     Financial records
	     Auditing standards

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GAO-01-167R

National Society of the Daughters of the American Revolution

United States General Accounting Office Washington, DC 20548

October 27, 2000 The Honorable Henry J. Hyde Chairman, Committee on the
Judiciary House of Representatives

Subject: Federally Chartered Corporation: Review of the Financial Statement
Audit Reports for the National Society of the Daughters of the American
Revolution for Fiscal Years 1999 and 1998

Dear Mr. Chairman: As requested, we reviewed the audit reports covering the
financial statements of the National Society of the Daughters of the
American Revolution, a federally chartered corporation, for the fiscal years
ended February 28, 1999 and 1998. The purpose of the corporation is to
perpetuate the memory of the men and women who achieved American
independence.

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 auditors' report and the corporation's financial statements to
the Congress.

The objective of our review was to determine whether the audit reports
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 auditors'
reports, 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.

GAO- 01- 167R National Society of the Daughters of the American Revolution
Page 2 The audit reports included the auditors' opinions that the financial
statements of the

corporation were presented fairly in accordance with generally accepted
accounting principles. We are returning the audit reports you sent with your
letter.

Sincerely yours, Jeffrey C. Steinhoff Managing Director Financial Management
and Assurance

Enclosures (912010)
*** End of document ***